Before retiring from work as an attorney, I lived and practiced law in the West Texas area for over 40 years.

That means more of your cash stays in your business, not the IRS’s pocket.For many buyers in this market the ability to offset income and reinvest tax savings is a major advantage — and it strengthens your underwriting.Since STRs have strong appeal (friends & family groups, weekend escapes, high-end amenities) the sooner you position it as a business, the better your financial outcome.Your Step-By-Step Playbook for Cost SegregationHere’s a practical checklist to make cost segregation work for you in an STR:Buy/underwrite with tax strategy in mind: When you evaluate a property, include cost segregation as part of your operating model (not just nightly rate and occupancy).Engage a cost segregation specialist: You’ll want a qualified provider who understands STRs (they’ll allocate assets into proper shorter lives, document everything).Structure operations for “business” treatment: Track participation (guest communication, property maintenance, marketing) to lean into non-passive income treatment.Conduct the study early: Ideally in the year you take service (purchase or major renovation) so you front‐load benefits.Keep detailed records: Invoices, improvement costs, design/furnishing upgrades, hours spent managing.

It is usually not practical in part because of what you bring up but also the amount of time it can take to get financing can be longer than the time to close. 

Practice your cold calls without the noise of heavy competition.Tighten your CRM.

Sadly, it is usually the new investors who spend $10K on complex asset protection structures but fail to take any of the practical steps you mentioned.

Tom Wheelwright’s WealthAbility is a full-on SCAM with shoddy ‘business practices’ that needs to be investigated for consumer fraud!

One practical step: define your buy box tonight and build a 10‑property tracker, then analyze and submit one offer within 7 days.

Hey @Zaid Jara, from my experience, the best thing you can do right now is start analyzing deals just for practice.

However, practically in can be a little more nuanced than that. 

I do like to recommend both as the best practice and if finances allow it.Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice.