Zillow Rental Manager or Avail work great — they handle rent collection, screening, and lease e-signing all in one place.

Keep each property in its own LLC, and report STR income as business income on your Schedule E or Schedule C (depending on your level of activity).6.

Just make sure you’re running it as a legitimate rental business (Schedule E won’t capture those benefits as well as a business structure might).If this were me, and I had the liquidity to stretch from $50K to $75K without draining reserves, I’d do it — especially since you’re getting both cash flow and appreciation potential.

I can sort of understand that because I don't have a property that I can expense this against in Schedule E.  

And we are just beginning.Norada Capital Management ( Link )30251 Golden Lantern # E-261Laguna Niguel, CA - 92677-5993Professional poker players call it a “tell.”

You mentioned your income is around 40k, so if your lender allows up to a 45% debt-to-income ratio, that gives you about 18k per year or 1,500 per month in total allowable debt (including car payments, student loans, mortgage, etc.).Just as an example, I pulled up a property at 4527 E 60th St, Kansas City, MO 64130.

I made out cashiers checks for the full amount of the two deals I won made out to them ... and e mailed those in... the guy called me and said no one had ever done that and I need to run that up the flag pole... :)  he came back same day and said it was fine..

While it’s a rental, you can deduct expenses and depreciation, and report income on Schedule E.

Ensure TaxAct is correctly reporting the adjustment on Schedule E and Schedule 1, Line 8, as IRS compliance requires.

Then you just need to be detailed as you're going through the bank rec so you can categorize for each property for reporting and tax Schedule E.