Average rent across the units will be closer to 700–750, not 500 — that figure just reflected legacy rates before we took over. 

What's the average monthly PROFIT from each rental you're estimating? 

. • If the average stay is fewer than 7 days, and you materially participate in the activity, the STR can be treated as non-passive even if you are not a Real Estate Professional. • This is often called the “short-term rental loophole.”Based on what you shared, the short-term rental route may be the relevant path here.There are very specific requirements to document material participation, average stay duration, guest interaction levels, etc., so the details matter. 

So, if one stay is 150 days and all the others are 7 days or less, the average stay requirement qualifies?

At the average rent point of CA, the maintenance/cap ex is huge.  

You would have to meet REPS (real estate professional status) to turn your MTR to non-passive to offset other non-passive income.If the average stay per guest is 7 days or less, then we're talking about the STR tax strategy, and therefore REPS requirements would not be necessary.

Sometimes the toughest part of a deal isn’t finding the property — it’s securing the capital in time.For those doing flips or short-term rehabs, what’s your average closing timeline?

.▪ Institutional OpEx benchmarksA one-liner that ties expenses to actual operator averages helps align expectations early.▪ Brief risk/mitigation bulletsDoesn’t need to be heavy, just shows we’ve already thought through the downside.Those couple of additions have made conversations with lenders much more efficient on our end, especially when moving from preliminary interest to real underwriting.Appreciate you sharing this, would definitely like to take a look at your full checklist PDF as well.

The IRS definition of in service is simply available as an STR before the end of the tax year.irs also requires an average stay of less than 7 days.  

Las Vegas Housing Market UpdateHome prices dipped slightly in September but bounced back in October, averaging around $485K.