Spend more than 500 hours on the short-term rental business.Do substantially everything for the short-term rental business.Spend more than 100 hours on the activity, with no other individual surpassing your time commitment.Engage in a significant participation activity for more than 100 hours, with your combined activity in all significant participation activities exceeding 500 hours.Participate in the business for five of the previous 10 taxable years.Engage in a personal service activity (non income-producing) for three of the previous taxable years.Demonstrate regular, continuous, and provable participation in the business for more than 100 hours.If these benchmarks are met then your income would no longer be considered passive but active and any losses could then be used to offset other active income ...

Evaluate repair costs, potential rental income, and the overall return on investment.

I've taken the time to do further research, and your guidance has provided me with a solid foundation.I particularly appreciate your explanation of the Debt Service Coverage Ratio (DSCR) loan option and the Bank Statement loan.

Costco hot tubs are affordable, but I heard that the service on them stinks and there seem to be a lot of reviews against the texture of the seating.Thank you!

I think I would discuss the after repair value with some qualified advisors to determine what makes sense if you are flipping it.

SURPRISE, he did none of the repairs.

. :)This is not a hybrid, it is a rental property that you rehabbed prior to placing in service.

We now have a new strategy which we are asking for input on before we move forward at a fast pace to scale quickly in 2024.We plan to use a HML for the Acquisition, Pay cash for Points/closing/repairs(no HML draw costs/waiting periods).

Any recommendation for such services or collection agencies?

This will not only help you keep your finances organized but also establish credibility with potential partners and clients.2.Utilize Tools and Technology:Equip your REI business with essential tools such as a Customer Relationship Management (CRM) system, Multiple Listing Service (MLS) access or real estate software suites, a professional website, digital business cards, and a Facebook business account.