If you speak Spanish, that’s a bonus for me (but definitely not a requirement)! 

The best way to fix it is to generate more profit in the same business, like improving rental cash flow or adding another income-producing activity under your LLC.Try not to create new big losses from bonus depreciation until you’ve used some of that up.

I'm all about and open to sharing this opportunity and using it as a learning opportunity and a bonus of financial growth so that maybe I can buy another one somewhere else in the future after having experience with a mentor. 

I’d add one more tip: don’t forget bonus depreciation and cost segregation if your property qualifies.

Possible, but only if the tiny house qualifies as depreciable rental property and you use cost segregation to break out shorter‑life components that may be eligible for current bonus depreciation; many “tiny homes” fail if they’re personal use, on wheels, or not placed/used as a rental.

You want one who helps you plan — who knows about cost segregation, bonus depreciation, and the difference between active and passive income.

This label means that any large "paper loss" from your setup expenses and Bonus Depreciation cannot be used to offset your W2 income—deductions are limited to rental income.Your key is to show with solid records, that your personal use days (even during the initial startup phase) stayed under that limit.

The return of bonus depreciation is a big win for those doing short-term or mid-term rentals.

Plus, the rental income is generally taxed at a lower rate than ordinary income.Also, if the condo appreciates, that’s an added bonus.

By materially participating, you can treat income as non-passive and use cost segregation with bonus depreciation to write off a large portion of property costs in the first year.