Quote from @Patrick Genevich: @Drew Sygit knowing how to interpret data and identify fraud is huge.

Steven, I don't have specific data to back up what is just my opinion. 

Check out the real data. 

Start by checking PI Magazine where you’ll have plenty to choose from.Most of the subscription-based data providers advertise there, too.

NAR this month pulled their ADU data.  

Even if a short-term rental qualifies as non-passive under the STR rules, those hours cannot be grouped with or applied toward long-term rental material participation or the 750-hour Real Estate Professional test.

A plethora of legislative acts, court decisions and Service rulings have produced complex and often conflicting guidance with respect to property qualifying for ITC, resulting in no bright-line tests for distinguishing § 1245 property from § 1250 property.

By the time it’s obvious in Airbnb or AirDNA data, the pricing and occupancy pressure is already baked in.

That said, we still do a lot of these deals despite the self sufficiency test as well. 

Happy to share some insights and local data points if you’d like to dig deeper!