Regarding short-term rentals, be sure to understand local regulations before investing.

That’s a fantastic starting point, especially for beginning investors.Both options you mentioned—renting or selling the vacant house—have pros and cons, and the “right” choice depends on your long-term goals.

I'm 39 and my wife and I have decided to get serious about our finances and long term future. 

If not listed, or listed but not exempted from coverage, my opinion is they are liable. 

Some areas in red states have thriving short-term rental markets, while many blue-state cities offer strong tenant demand and appreciation potential.I invest in Columbus, OH and have seen success with both long-term and short-term strategies, depending on the neighborhood and local guidelines.

-Mexico citizen, born and raised in Colorado, and over the past few years I’ve been actively investing in Mexican real estate — mostly in presale condos and long-term or vacation rental markets like Guadalajara, Cancún, and Lake Chapala.I originally started by looking for affordable, well-located properties for personal use, but as I dug deeper, I realized there were real opportunities for long-term appreciation, rental income, and geographic diversification — often with as little as $20–30k down.The process isn’t as complicated as people think, but there are definitely key things to understand, including:How foreigners can legally own property in Mexico (especially in restricted zones like the coast),How presale contracts and developer relationships work,What kinds of rental strategies are viable in different markets (Airbnb, mid-term, or traditional long-term),Currency and exchange rate considerations, title safety, and banking between the U.S. and Mexico.One major advantage of presale in Mexico is that many developers offer in-house, interest-free financing during construction, allowing buyers to spread out payments over 24–36 months — without involving a bank or mortgage process.

@William Williamsshort term, long term and flipping are all very different strategiesthere are books, forums, podcasts, on all of them. 

Converting the property to a long-term rental the following year doesn’t undo the deduction.

Since you're focusing on building long term wealth and rental income, focusing on value add Buy and Hold would be the way to go.

Hi there—I’m a full-time real estate professional based in Ohio with a strong focus on property management, short-term rentals, and investor support.I own and operate a property management company in Columbus, where we specialize in managing nicer single-family homes and small multi-family properties.