thanks for the help I am not a tax expert and so can't tell you WHAT to do, but I can give you some things to look into at least....Since you mentioned STRs you should look into bonus depreciation...You also mentioned cost segregation.

It's been, and will continue to be, one of the stronger vacation markets on the east coast, and from a tax strategy perspective, I can still plan on bonus depreciation, which is material in my individual case.Thanks for any thoughts from those on the ground, or those with existing STRs in the market!

That determines 90 percent of the play here.Here’s the step-by-step framework I use when evaluating these in-between parcels:1.

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.

When a deal is more of an equity play than a cash-flow machine, the tenant experience becomes your competitive advantage, especially in HOA communities where you can’t do much outside.A few things that tend to move the needle for renters without blowing your budget:1.

A common strategy is to keep California properties in your personal name with insurance, then put your Texas properties in an LLC, keeping the states separate.From a tax standpoint, it doesn’t matter much whether you own the rentals personally or in an LLC—your depreciation, expenses, and bonus depreciation still flow through to your return.

Also, Indianapolis has been paying 20% above the Fair Market value of rents with no Cap on rent increases,  which is a big bonus!!

BRRR could be a great option with 100% bonus depreciation, but check with your CPA to see if it fits your overall financial picture.No need to rush into the next one, planning and timing matter more than speed early on.

Since the property is already renovated and rented, there’s less opportunity for big deductions like rehab costs or bonus depreciation from a cost segregation study.Where investors sometimes miss out is depreciation planning, the turnkey provider sets everything up, but rarely talks about how to structure ownership or when to group properties for tax purposes.

Groups that move quickly on large land plays usually include experienced land developers, family offices, private equity real estate shops, or institutional-leaning partners who already have dry powder and a track record with entitlement risk.