Hi all,I'm having a heck of time getting any useful reporting for year-end tax purposes out of Lodgify.

Hi Mendy,Appreciate your input — I definitely agree that the U.S. offers some of the most investor-friendly financing options globally, especially with long-term fixed-rate mortgages and well-established depreciation benefits.The depth of available markets across different states is also a significant advantage in terms of flexibility and portfolio diversification.From an international perspective, some investors may still explore certain European markets for geographic diversification or yield differences, but the U.S. financing structure is certainly hard to replicate elsewhere.Always interesting to compare how different systems incentivize real estate investment.

Given the market, I'm not counting on any appreciation in the short term.My math brings me to a negative cash flow, despite having a very good rate compared to if I were to buy an equivalent property today at current rates. 

The 25% figure they gave you is consistent with how bonus depreciation works for a property that was partly used for personal purposes during the same year it was rented.The rough math: if the unit was STR for approximately 5 months (May-September) out of 12, the time-based rental allocation is around 41% — but if they're factoring in the personal use overlap (the basement unit being yours for part of the year), the allowable depreciation percentage gets reduced further. 25% in the ballpark isn't surprising for your situation.A couple things worth clarifying with your CPA:1.

Even after taking title, there can be liens, property condition surprises, or redemption rights depending on the jurisdiction.The concept works best when the note is purchased at a big enough discount to absorb those uncertainties, because the timelines can easily drift compared to a traditional BRRRR purchase.That said, if the numbers still make sense after factoring in legal costs, holding time, and potential delays, stepping into the note position can create a pretty interesting entry point.

Make sure you're comparing net yields after all expenses, not just headline cap rates.If you want to compare deal assumptions on specific zones or corridors, I'm always happy to dig into the numbers.

He included an income approach for informational purposes only.  

There is a level of speculation from a third party of why would this potential partner do what is purposed unless he is making out like a bandit.

I have read mixed things online about florida's handling of single member LLC and it potentially being weaker for asset protection compared to multi-member LLC. 

Hi everyone, Sarge here - Still early in my investing path and building deliberately. My partners and I are focused on long-term, sustainable real estate rather than fast acquisition cycles. We’re taking time to learn...