I'm working on first STR purchase. Considering cash down payment versus HELOC draw for the down payment. Why I'd use cash is to avoid the HELOC payback (fixed 7.1%, 10/10, not yet tapped) and increased cash flow (no HELOC interest repayment) for the STR. On the other hand if I used the HELOC for down payment I preserve cash for to scale in near future and for rainy-day funds. Any suggestions?

I'm currently having a cost segregation done on my STR and I use the STR loophole. I am trying to see if qualifying for REPS in the future (probably difficult to do with 3 LTR duplexes+ 1 STR) and purchasing a duplex ($600kish) and doing a cost seg, will be as beneficial as the STR cost seg where I put in significant improvements (the duplex will probably be outdated with minimal improvements).

Anyone one here claim REPS? My wife and I use the STR loophole and were trying to see if there is a path to REPS with 6 LTRs and 1 STR (we self manage), wife has no other employment. What is your experience? Unit count and where do the majority of your hours come from?

How do you convince a Tax Attorney that your STR belongs on Schedule E not Schedule C? How much tax savings am I missing out on with him using the wrong Schedule and how do I correct it moving forward. Also the year he used it I did a cost seg and now being audited.