Most of the stuff I see prospective residents give me is total garbage you can buy online for $50.

The total number of LPs would be no more than 6 or 7 and the total capital would barely cross half a million.

He has made a lot of grandiose predictions over the years that have not materialized: such as the "hallucinations" issue with AI being solved by now which it hasn't, and predicted that blue collar jobs would be totally gone by now, and that we'd have self-driving cars by 2019 etc. 

If you are not in a situation where the cash flow is necessary you should look at total return.  

. :)My question is whether using 1 unit in a multifamily property as a STR would allow for the expenses for that unit, as well as a portion of the total depreciation for the property, to be applied toward the so-called "STR loophole" to offset my W2 income, assuming I meet material participation criteria for the STR. 

All the stories here on BP are “my syndication stopped paying distributions” not “I’m making so much money totally passive!”

Even if we see things differently, I genuinely believe respectful opinions like yours add real value to the conversation.Just to clarify the situation:-Property taxes represent barely ~1% of the total debt.

Quote from @Michael Baum: Hey @William Kwong, so you didn't say how big the place is but there are some restrictions on STRs in multifamily there.For example - Not more than two separate units in any multifamily residential dwelling, whereone other unit in the same dwelling is occupied by the owner and identified by theowner as his or her principal residence, as that term is defined herein;So it appears, if it is more than a 3 plex, you can only STR 2 of the units in total.

Total square footage is 1100!

Hey @Vanessa Herrera, I can totally relate to the overwhelming feeling in the beginning.