.💼 Professional Fees – Legal, accounting, or property management services.🧑‍🔧 Contractor Labor & Supplies – Any materials or hired help for property improvements.🚗 Mileage/Travel – When traveling to inspect or manage rental properties (keep mileage logs).💻 Office Supplies & Software – Including bookkeeping tools, printers, and even part of your home office.Creative Ways to Give Back — and Still SaveGiving back can also be tax-deductible when done thoughtfully:🎁 Tenant Appreciation Gifts: Small gifts such as gift cards, snacks, or holiday baskets (under $25 per tenant per IRS rules) can be deductible as a business expense.🏘️ Community Donations: Contributing to local charities, shelters, or community events near your property may be tax-deductible if donated to a registered nonprofit (501(c)(3)).🧤 Property Improvement Drives: Donating old appliances, furniture, or materials from renovations to nonprofit organizations like Habitat for Humanity can qualify as a charitable deduction.Pro Tip:Before December 31st, review your receipts, invoices, and bank statements.

In many cases, having these protections in place also strengthens your position during negotiations or legal disputes, often resulting in more favorable outcomes.To navigate these complexities effectively, I highly recommend assembling a trusted team of qualified professionals.

Great points, Jeff — and you’re right to highlight that the expense ratios are unusually efficient for a coastal STR.A couple of clarifications on the numbers:The current owner self-manages, which keeps cleaning and maintenance costs lower than a third-party STR manager would typically charge.Some of the repairs and CapEx were front-loaded in prior years (new flooring, appliances, and paint), so last year’s P&L reflects more of a stabilized-operations scenario.The utilities figure is accurate — it’s higher due to being master-metered for the property — but the other OPEX categories are slightly understated if you were to underwrite this as a fully managed, third-party operation.If I modeled it using a professional management assumption plus normalized reserves, the operating ratio trends closer to 48–50%, which aligns with what you mentioned for coastal STR multifamily.I appreciate you calling that out — it’s a great reminder of how much variance there can be between owner-operated and institutional-style expense reporting, especially in hybrid STR assets like this.Here's the owner's profit and loss statement for the exacts of the 2024 year.

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It’s a townhome located near a major medical area, so I’m targeting traveling nurses and other professionals looking for 1–6 month stays. 

Not all of your hours will count toward Real Estate Professional status.

The good news is that there are ways to avoid it altogether through proper planning, organization, and working with experienced professionals who understand both the tax, real estate, and financial sides.We always tell clients the same thing before they invest: see all sides of the picture.

For landlords, understanding how to respond to suspected mold and how to educate tenants about prevention is essential to protecting both your investment and your reputation.Avoid Using the Word “Mold” PrematurelyWhen a tenant reports dark spots or moisture issues, it’s important not to refer to the substance as “mold” unless it has been professionally tested and confirmed by a certified mold inspector or remediator.Until testing is complete, landlords should refer to the issue as “black stains,” “discoloration,” or “moisture-related staining.”

I understand how important it is to expand your presence in the online marketplace to reach a wider audience.Given the complexity and technical aspects of e-commerce, I would advise you to seriously consider enlisting the help of a professional e-commerce development company.

I’m a licensed Professional Engineer in Texas, Nebraska, and Colorado.