It definitely sounds like the appraisal came in light based on the scope of work you put into both units and the rent you’re achieving.

Our clients making mid-six figures via W2 get the most significant benefits by launching an STR by the end of the year and offsetting taxes.The most common hurdle is the material participation test, often achieved by committing over 100 hours of direct management and tracking that time to ensure it is more than the hours spent by any other individual, including cleaners and property managers.

The key is how you stand out from all the other listings to achieve higher ADRs and occupancy, making the numbers work. 

I'm guessing the way to achieve purchase and improvement would be to use some to acquire the land and then get hit with tax boot(?)

, or “Is there another way to achieve the same goal?” 

How much effort are you willing to put into this venture will ultimately influence the yield you are trying to achieve.

What really matters is whether the property can truly achieve the rents you’re expecting and whether the fundamentals (location, condition, tenant pool) support your long-term goals.

Your question should be restated as - how do I achieve anonymity buying a property in OH while I'm a NY resident?

I reviewed a handful of additional calls and came to the realization that we have some work to do on our end.Our ultimate goal is to identify folks out there who have what it takes to be a success in the land development industry and help them achieve their goals.

Look for homes in good neighborhoods with stable demand, where you can achieve an 8%+ return and 3–5% annual appreciation regardless of market conditions.