As a general rule of thumb, expense ratios have an inverse relationship with property values.

The key is to keep records like receipts, detailed activity logs, and anything tangible that shows the work they’re actually doing.Even for long-term rentals, tracking time and understanding passive vs. non-passive income matters, though the rules are a little different.This is one of the biggest tax advantages of STRs done right.

Finding one that meets the 1% rule seems impossible these days….

Use the math.at $2300 using 50% rule: $1150/month cash flow is $13,800/year.  

.💻 Office Supplies & Software – Including bookkeeping tools, printers, and even part of your home office.Creative Ways to Give Back — and Still SaveGiving back can also be tax-deductible when done thoughtfully:🎁 Tenant Appreciation Gifts: Small gifts such as gift cards, snacks, or holiday baskets (under $25 per tenant per IRS rules) can be deductible as a business expense.🏘️ Community Donations: Contributing to local charities, shelters, or community events near your property may be tax-deductible if donated to a registered nonprofit (501(c)(3)).🧤 Property Improvement Drives: Donating old appliances, furniture, or materials from renovations to nonprofit organizations like Habitat for Humanity can qualify as a charitable deduction.Pro Tip:Before December 31st, review your receipts, invoices, and bank statements.

Is my concern about the neighborhood justified or is this a common rookie mistake?

Utah state law allows 60 days to protest the rule change and if 51% file a protest, the rules do not go into affect. 

My concern is selling now and later regretting it if our kids end up here and it’s priced out.Options I’m weighing:Sell within the next year and use the §121 exclusion.Pros: harvest tax-free gain; redeploy into 3–5 cash-flow rentals; simplify; diversify.Cons: lose the “legacy house” in a prime area; potential regret if kids want to live here later.Keep and re-rent for cash flow and appreciation.Pros: maintain foothold in an A location; optionality for kids later.Cons: likely forfeit §121; future sale may need a 1031 (adding timing/loan complexity); modest cash flow now.Hybrid ideas I’m open to:Sell now, earmark funds in a conservative bucket to help kids buy later (if/when they move back).Sell part of the equity via HELOC/portfolio loan, keep the house, and still buy rentals (trade-off: leverage/risk).Move back in later to re-start the §121 clock (understanding holding costs/complexity and tax rules).Questions for the group:In a scenario like this, how do you weigh tax-free equity harvesting now vs. long-term optionality in a blue-chip location?

I didn't initiate the contact.Unfortunately several tax professionals do violate these clear rules.

Hi, I'm at the end of a long rehab of a home in the City of Cleveland (44109) and had a contractor confirmed to put down a gravel driveway for the home. The day he was supposed to begin the project, he tells me he can...