Material participation in the rental activities still required. 

To qualify for active status on short-term rentals for tax purposes , you need to meet the IRS’s material participation requirements.

They must satisfy "material participation" test for their STRs to utilize the strategy.

@Scott Trench - have you considered investing in short term rentals, materially participating, and having the average stay be less than 7 days?

It is hard to really keep up with those kinds of trends unless I budget 10k a year in updating the property which I am not going to do.I participate in our local council/mayor meetings.

I'd like to invite you to participate in a group I host called THE MTR Connect.

@Jonathan B.Assuming you pass the "material participation" test for 2023 and did not use the property yourself (or used very little), you should be able to treat it as an STR for 2023, including bonus depreciation.  

You can break it out by general RE activities and material participation.

Quote from @Kiryl Ulanovich: What is the order of events that I have to do as a flipper with the participation of wholesaler and hard money lender?

New Member looking to learn about, and participate in Real Estate wholesaling.