That way, profits and responsibilities are clearly defined without making your friend a co-owner.Profit-Sharing Agreement: One person owns the property, but you can set up a contract where your friend gets a percentage of STR profits.

It's been a vital aspect of my success.

In US tax law, the depreciable lifespan of an asset is defined by its MACRS classification which stands for “Modified Accelerated Cost Recovery System.”Under MACRS, depreciable assets are assigned to different classes, with each class having a specific recovery period.

This leads into the next key aspect, pyramiding.

     - Establish clear criteria: Define your tenant selection criteria ahead of time and apply them consistently to every applicant to avoid discrimination

By removing the local aspect and the grant aspect of typical funding into those areas, the TCJA is really pushing for more of a capitalistic approach to community revitalization. 

Defining rip or dip isn't necessarily historical but also relative.

I actually belong to a credit union for my personal banking and I will definately check that out.

He doesn't define his success as being a professional with some secret, he has homes built and jobs completed as his track record as well as his bank account and he's proud of it.

You've mentioned some of the dangerous aspects.