That means more of your cash stays in your business, not the IRS’s pocket.For many buyers in this market the ability to offset income and reinvest tax savings is a major advantage — and it strengthens your underwriting.Since STRs have strong appeal (friends & family groups, weekend escapes, high-end amenities) the sooner you position it as a business, the better your financial outcome.Your Step-By-Step Playbook for Cost SegregationHere’s a practical checklist to make cost segregation work for you in an STR:Buy/underwrite with tax strategy in mind: When you evaluate a property, include cost segregation as part of your operating model (not just nightly rate and occupancy).Engage a cost segregation specialist: You’ll want a qualified provider who understands STRs (they’ll allocate assets into proper shorter lives, document everything).Structure operations for “business” treatment: Track participation (guest communication, property maintenance, marketing) to lean into non-passive income treatment.Conduct the study early: Ideally in the year you take service (purchase or major renovation) so you front‐load benefits.Keep detailed records: Invoices, improvement costs, design/furnishing upgrades, hours spent managing.

It's best to start with long term rentals so you can get some skin in the game.

I'm just getting started, learning how I can secure a small multi family here in Salt Lake County, and this kind of conversation is very valuable. 

No better way to get started than this! 

Alternatively, if you're just looking for strong returns and aren't married to the idea of starting a real estate syndication business, consider investing passively as a member of a larger community.

Lenders tend to really like it, especially in a strong market, with a history of steady occupancy. 

I am eager to get started but just feel like I don't have enough money to get started, especially in my market.

This deal showcased the power of speed, strong negotiation, and knowing how to leverage the right opportunity at the right moment.What made you interested in investing in this type of deal?

Focusing on these areas can give you solid flips or buy-and-hold options with strong returns.

Stay curious, build strong connections, and keep moving forward, you’re in a great spot to grow.