If they did, they wouldn't be here asking questions : )  As a result, this means that CPAs, Lawyers, and Financial professionals should explain things in simple terms that are easy for people to understand (I'm not sure quoting pubs and regs directly screams simplicity, but including it as a reference is helpful for everyone). 

And, in case you wonder what has changed, here is an article explaining it: https://www.biggerpockets.com/forums/51/topics/1249780-expla...Everyone is talking about STRs (short-term-rentals), about the STR loophole and so forth.

I’m evaluating Indianapolis as a potential secondary market and am in the operator discovery phase.I’m looking to speak with property managers who currently manage room rentals / shared housing, or who have chosen not to manage them and can explain why.My target acquisition profile is:3–4 bedroom SFRsTypically sub-$200kNo HOAsI’m not asking for deals yet -I’m looking to understand:Which zip codes realistically support room rentalsWhat occupancy models PMs will and won’t touchWhere new investors get into troubleBrief conversations are perfectly fine — I value candid insight..

When pitching corporate housing or MTR arbitrage, I’ve noticed landlords care most about:-Rent paid on time-Property protection-Low turnover-Professional tenantsThey care far less about how you make money.How do you explain the MTR model to landlords without scaring them off?

I've had a hard time explaining to a bookkeeper how to know which payment is from which tenant, by just looking at the bank deposit.

Here’s the tight, practical version.New FinCEN Reporting Rule — What You Need to KnowIf a residential property (including residential lots) is purchased:By an entity (LLC, corporation, partnership, or certain trusts), andWithout traditional financing (cash, private money, some hard-money deals),a FinCEN report is mandatory.No report = no funds released at closing.How to stay compliantDisclose entity purchases at contract, not the week of closingHave ownership and control info ready upfront (generally 25%+ owners and entity signers)Expect additional paperwork on cash and investor dealsCoordinate early with your title company or closing attorneyOfficial guidance from FinCEN:https://www.fincen.gov/rreFor a visual walkthrough of what this looks like and why it matters, here’s a great explainer for visual learners:https://youtu.be/509Xqze7gDw?

I am still receiving quotes that explain Rental Type as "long term" and "secondary" or "seasonal".

I'm writing this in December 2024, when every other question asked on the Bigger Pockets tax forum is about STRs. If you're not sure what the fuss is all about, read this older post first:https://www.biggerpockets.com...

Quote from @Ray Nunez: Im happy to explain PadSplit further.

While this can be explained, it can’t be changed.This is one scenario I didn’t anticipate, as my exit strategy is typically determined post-flip.