Just focus on finding a good deal and getting a good team behind you like a lender, real estate agent, CPA, etc.

A cost seg is done on the whole property, then your CPA can allocate the bonus piece to the STR portion.

If you’re past 5 years of ownership, you might only need to satisfy the 2 years of living there.This is definitely a “run it by a CPA” moment, but at least now you’ve got the framework to ask the right questions; I reall hope this helps you out I sent you a DM on BP and hope you are able to assist.

As far as taxes, that’s for your cpa.

Magna cum laude, Phi Beta Kappa, MBA, CPA at largest CPA firm in the world.  

I'd get in contact with your lender, CPA, and attorney (for the trust) to navigate through all of these.

A real estate savvy CPA (not just any CPA) is the one to talk to for this. 

That’s why I’d definitely run the numbers with your CPA.

(Mid-month convention, selling costs, state taxes, NIIT, and 1031 exchanges can change the numbers.)I am not a CPA.

I have a CPA I work with who I’m sure will sort all of it out, just didn’t want to do something if it would cause a huge tax headache later.Do you know if you convert a STR to a LTR after a cost seg, will it cause a large repayment of taxes (I’m doing the cost segs to lower my W2 tax rate).