You might have better luck looking in smaller cities or suburbs where prices aren’t as inflated but there’s still demand.Also, before jumping in, run the numbers carefully  material and labor costs can be high, and flipping timelines sometimes stretch longer than planned.

The irs is pretty clear with various court cases that at least two stays is needed to prove short term rental status. you will also need to find a way to materially participate in the assetOne other caveat is that STRs are a business.

This means the average stay at your property cannot be more than 7 days, you will need to pass the tests of Material Participation or being a Real Estate Professional, and keep a log of the hours you spend performing “activities” for the real estate.In order to Material Participate, you need to pass one of the seven tests for Material Participation on the property.

I help private fund/syndication managers with compliance requirements, SEC registration, filings, reviewing marketing material, and much more.

.), you're often limited to $25,000 of passive losses per year—and that phases out completely if your modified adjusted gross income (MAGI) exceeds $150,000.Real Estate Professional Status (REPS) or the STR Loophole: To use rental losses to offset W-2 or other active income, you must either:Qualify as a Real Estate Professional (750+ hours, primarily in real estate) and materially participate in the property.Or, if it's a short-term rental (average stay under 7 days), materially participate (100+ hours and more than anyone else) to convert it from passive to non-passive—even without REPS.Standard deduction vs. itemizing: You mentioned your CPA said deductions didn’t help due to the standard deduction.

@Wayne Wollesen Great tips in this forum regarding understanding the context in which Cost Seg is done and how it may or may not impact the bottom line on your tax return depending on material participation, real estate professional tax status, classification as short-term rental, substantial services, etc.

-------Today’s Interest Rate: 6.34%(☝️.15% from this time last week, 30-yr mortgage)-------The Weekly 3 in News: -Despite tariffs and immigration headlines, residential construction material and labor cost inflation remain in check—at least for D.R.

Material is 13 feet wide.Used landscape staples to anchor. 

Document EverythingUse contracts that outline exact materials, finishes, and change-order procedures.

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