Since I'm throwing away everything in the house, except a few pieces furniture that are not damaged, do I still need to treat the bedbugs?

Quote from @David Treat: What comes next in real estate now that Trump is in?

@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.  

We would like for the investment to be treated as active, of course.

Do you suggest file 1065 or be treated as disregarded entity on schedule E. 

Since this is a short-term flip, the IRS usually sees it as active income, but if your role is truly hands-off, there might be a way to treat it differently.Have you thought about how you’re structuring the deal?

If you're looking to treat this as a regular rental, then charging undermarket rent throws a monkey wrench in that. 

If you are just starting out, this is for you:When you buy an investment property, it is treated differently than a house you are going to live in. 

In all reality, if you apply your screening criteria equally, and treat people with the respect and dignity they deserve (no matter where your rent money comes from), it's not an issue. 

I also treated studying like a full-time job.