Hey Gang, we purchased our first STR in late 2024 in southwest Michigan. I knew nothing about bonus depreciation at the time, otherwise I probably would've tried to push the deal into 2025. 😅 We've been enjoying the process so far, and just recently made the move to our own direct listing site to help further optimize revenue. This site is new to us, so I'd appreciate any candid feedback. I'm also happy to share any tips for anyone else who's looking to build out their own direct booking site/platform. This one costs $10 per year to host and the time I've spent building it will count towards my material participation threshold, although the reality of self-managing is that 100 is not a high bar to hit. www.mishorething.com

Answering the quesitons from the intro video. 1. Why do I want to save money on taxes? Hoping to execute this STR Tax Loophole correctly to help offest our W2's to then come in with a decent downpayment on our next STR, hopefully being able to repeat the process to boost our portfolio. 2. Where are you in the journey? My wife and I closed on our first STR, beach house in Florida on Friday. Prepping and working on it right now to get ready for guests hopefully before 1 October. 3. Number 1 challenge for me right now would be the lack of understanding of tax code/taxes in general. Tie that with the lack of time available to learn it. If I could easily understand/quickly understand it all, it would definitely help.

My wife and have decided to launch a STR business to help change our family’s legacy. We have purchased 2 properties that will go live early 2027 and, as a result, seek to minimize our tax responsibilities as best as we are legally able.

We purchased a beach property for STR purposes. It is a new build and we take possession in Jan 2027 although we have been under contract for two years. Are any of the expenses we’ve incurred, including travel to property deductible and establishing the business aspects? Can the hours we’ve accumulated thus far be rolled over to next year after the property becomes listed for rent?

I''m getting ready to close on my first property, which is very exciting but also quite nerve-wracking. I'm just wondering if all of the time I've put into finding this property, researching it, talking to realtors, talking to lenders, going through the whole closing process right now, the travel out there, all of that kind of stuff, can I claim that as my hours when I do my STR Tax Loophole processing toward my 100 hours? Also, I'm assuming that I can deduct all of mine and my wife's travel expenses going out there to see it and analyze it before purchasing? Thanks for your help!