STR Cost segregation make or break questions

[Sonia Kulkarni]

This forum has been a great resource for learning thus far, thank you everyone for contributing.

My spouse and I are W2 employees and have a few investment properties but all of them are LTR. We are interested in making use of the STR tax strategy to offset our W2 income this year (work 100+ hours, average rental less than 7 days, no one else worked more than us).

But

• 1) Can we only keep it as short-term rental for 2024 collecting minimal STR rents and convert it to LTR in the following year (2025). We don’t want the hassle of short-term rental but want to make use of the cost segregation benefit for year 1.
• 2) Can I purchase a new truck/car for managing the STR and add the cost of the truck to cost segregation along with the STR unit. As in, can we add a new vehicle ( 6,000lbs +) to the cost segregation if we justify using it for managing the AIRBNB.
• 3) Can we cost segregate any furnishing that we do for the STR rental?

I understand there is decent cost associated with cost segregation study and having a reliable CPA who can help us with the process. So wanted to check if I can make use of any of the 3 points above. 

Thanks,

Sonia