Plus, since our guests stay for more than 30 days, we're not subject to the short term tourist tax & licensing.

If you- own a short term rental in your name- have a mortgage on that property - self manage Do you still create a LLC to manage your rental business or do you manage it under your name and then file income and expenses as part of your tax filing?

I am wondering what are the tax implications for this individuals (most of them are from Spain). 

What's the best way to track your property income/expenses for tax purposes?

@Vikranth BiradarI recommend finding a tax strategist that specializes in real estate taxation, REPS and cost segregation.

- How much should we expect to pay for taxes and insurance?

I'm hoping to connect with a reliable CPA that I can build a relationship with to help me get on track with my tax returns but also someone that can provide sound advice as my business grows.

Does that number include tax, insurance? 

Long-Term Rentals: While not ideal for short-term stays, focusing on traditional long-term rentals can provide stable income and avoid regulation complexities.

Did you know that the tax code offers many incentives for real estate property owners that have a cost segregation study performed, thus allocating costs to 1245 property?