When filing jointly, if one spouse qualifies as a Real Estate Professional and materially participates, the rental activity as a whole can be treated as non-passive for the joint return.

The STR Strategy is clearly the way to go for my circumstances.

Demoing a shower will almost always disturb floor tile, and there’s no point installing a brand-new floor just to risk damaging it during the shower tear-out.A few guidelines:Shower first, floor second.Demo the shower, repair or replace any damaged framing, install proper waterproofing, and rebuild the enclosure before touching the rest of the tile in the room.Get multiple quotes.Shower rebuilds vary a lot in price depending on materials and waterproofing systems.

I am the store manager at the largest flooring store in Houston, and top 100 in the Nation.

@Gary Tucci,A cost segregation study can definitely be worth the investment, especially with 100% bonus depreciation.Since your short-term rental (STR) is likely non-passive due to your material participation, the bonus depreciation can offset other income, including W-2 income.

For quick checks, KeyCheck and SmartMove have been the easiest for me.Happy to connect!

@Alex Melara  We managed short term rentals for a while and stopped when the restrictions became to restrictive. 

- but that's about a 17% difference in annual house sales, taken in comparison with a time when house sales were really in the toilet as we were coming on the tail end of the GR.

James, welcome to the game, and props for actually taking the time to learn the language before jumping in.

Hi everyone,I’m a Cleveland native and active in the local real estate market, and I’ve been increasingly noticing more out-of-state investors purchasing here due to cash-flow potential.