That matters because rentals are often automatically passive.That also means the taxpayer uses the material participation rules from 1.469-5T to determine whether the STR is passive or not.Having an average guest stay of 7 days or less breaks it out of the definition of being a passive rental under 469.

For 2024, the threshold amount is $305,000 ($610,000 for taxpayers filing a joint return).

I made the property tax payments in full in January of 2024 for the 2023 year, and I made the 2024 property tax payment in 2024.

Have proof on hand (easy enough to find) online of the missed tax payments and any documentation that supports that he specifically didn't pay his taxes.Probably a simply mistake on his part, but now if he wants to develop on it, he either has to land lease it from you or buy it back.I'm not sure how the whole tax deed thing works, so that would be something you have to figure out between the two of you.

And spare you from Taxpayers asking you a bunch of What-If's, for no compensation. 

@Ricky Sanchez One of the requirements of doing a 1031 exchange is that the tax-payer for the relinquished property has to be the same for your replacement property.

Taxpayers to the rescue.So Congress passed, and President Bush signed (wow, kinda forgot about Bush until now), the Housing and Economic Recovery Act of 2008 (HERA), which established a new agency (we love creating new federal agencies in this country): the Federal Housing Finance Agency, giving it authority to place regulated entities into conservatorship or receivership.

In real estate, you can very realistically completely remove ANY bite, at least for a time, but also you get to make $ on what would be a tax payment (1031).

In this instance, all properties involved in the exchange must qualify as an investment (ex. rental) or business-use property.2)  If the property is currently titled in the name of the trust, the trust would technically be the taxpayer/exchanger completing the exchange. 

This tax is designed to protect tax-paying businesses from unfair competition from tax-exempt entities.Running a self-storage facility is a business.