.: Quote from @Matthew Hamilton: When it comes to how income and losses show up on your tax return, everything generally falls into one of two categories: passive or non-passive. • Passive losses can only offset passive income.• Non-passive losses can offset both non-passive and passive income.W-2 income is non-passive, and in most cases, capital gains from selling investments (brokerage accounts, crypto, etc.) are also non-passive.Real estate losses, by default, are considered passive.There are two main ways to convert those real estate losses into non-passive losses (which is what you’d need to offset W-2 income):1.

A studio under 400 sqft isn't a general restriction, so just bring that up from the start with any new lenders to make sure they're ok with it. 

They’ve filed registration statements with the SEC, and while the filings are still under review, the model shows that on-chain asset structures can potentially comply with regulatory requirements.Of course, there are still risks and uncertainties: the SEC review is ongoing, adoption is not guaranteed, and operational and liquidity challenges remain.

The Taxable Value is uncapped and equated to the SEV upon a sale or other transfer of property ownership, with limited exceptions.Homestead versus Non-Homestead Millage RatesCounties & cities in Michigan are allowed to set their own millage rates, with one restriction – a primary residence (Homestead) is exempt from up to 18 mills of school taxes on their Homestead property.

What are your strategies to max yield and liquidity?

Generally, agency lenders want:-Net worth equal to or greater than the loan amount,-Liquidity of roughly 10% of the loan amount, spread across the guarantor team.This becomes a gating factor as you scale.

If your goal is to save up for your first property or long-term rental, the best approach really depends on two things — your time horizon and your comfort with risk.Here’s how a few options compare:High-Yield Savings Account:Great for liquidity and short-term goals (within 12–18 months).

Assuming cash flow is sufficient for your goals, you have high confidence in your income and vacancy projections, and a high confidence in the HOA not changing the existing restrictions, I don't see anything else that should give you second thought, based on what you've shared here. 

Good morning, A non-related party can certainly function as a qualified intermediary, but you need to be very careful. 

But it is the reason why some hosts thrive long term while others lose money, shut down, or are forced to pivot under pressure.Let’s talk about what actually decides whether your short term rental succeeds.Why Market Selection Matters More Than Interior DesignYou can have the most beautifully designed property with every amenity guests love, but if the city suddenly restricts short-term rentals, the neighborhood pushes back, tourism demand is unstable, or licensing and tax costs eat into your margins, décor and pricing strategies won’t save the investment.