Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

Just looking for experiences or suggestions from others who have handled a similar situation. 

I know a few of mine are Family, Health, and personal growth, but I am curious as to what others are thinking.

Whether it's about real estate investing, personal finance, or any other topic, I want to empower others with the tools they need to succeed without expecting anything in return.However, not everyone shares this philosophy.

Material Participation Activities:Property Maintenance: Engage in repairs or construction work on the property to maintain or enhance its condition.Contractor Management: Oversee the hiring and coordination of contractors or handymen for property-related tasks.Tenant Interaction: Communicate with tenants regarding lease agreements, inquiries, or property issues.Property Acquisition: Invest time in property search and evaluation processes, including visits to potential investment properties.Property Management Tasks: Perform activities typically handled by property management companies, such as rent collection or property inspections.Non-Qualifying Activities:Educational Pursuits: Time spent on real estate education or training programs does not count towards material participation.Investor Hours: Hours dedicated to investment analysis, financial planning, or portfolio management are not considered material participation.

Out of principle, i personally would have hard time looking the other way and allowing this dishonest person to take advantage of my property like this.

And a washer & dryer are critical for those of us traveling away from home for more than a few days.One of the things I love about our small 2-person Airbnb is that I never have to worry about big, illegal, violent drug parties or families having a field day jumping up and down on our beds.If single people or couples are likely to be visiting Branson, they make awesome guests. 

I am working full-time and expect to have a property management company handle the property, but want to set expectations for them based on what I've learned through my studies.

Even if you are filing an extension I have tried to put some things together here that will help you DECREASE your personal tax liability and INCREASE your income for qualifying for a Fannie Mae and Freddie Mac type of loan.This post is designed to help persons who may need a Fannie/Freddie loan on a 1-4 unit property.

And now because of they cancelled my insurance policy all insurance companies are saying they will not provide insurance for my home.please advise me how to handle this situation.Thanks Neetu