The 1% rule is best only used as a quick and dirty evaluation used to pick which property you plan on running additonal calculations on.

For short-term rentals (STRs), the 100-hour rule may be an easier path.

You can find positive cash flow and the 1% rule here!

You will need to justify the sale price of those assets to the new owner at their then current value on your books.It is a big hassle to do this, but it can make you a lot of money if you do it right and are careful in your record keeping.

The 50% rule - in my opinion- is used solely as a quick back of napkin calculation to determine if it is worthwhile to do more investigating of a property. 

Or maybe a favorite way to stay updated on local rules?

We pulled every trick in the book, and the odor remains.Another issue is that when tenants violate one rule, they tend to violate more.

Do you guys still apply that rule? 

Newer septic rules also require enough land for two septic tanks per each one you are required to install.

@Seidy Lasker Wash sale rules apply to stock options if they are deemed "substantially identical" to a security sold at a loss within 30 days, such as options with similar expiration dates or strike prices.