@Matt Borowski I apparently can’t DM at the Skool level I’m at. My email is carmen@carmensalazar.com - thank you!

@Pankaj Mittal any you can share?

Great question! I needed this info too!

@Ryan Bakke, CPA in case 2) that would be marked as a marketing expense in Quickbooks but in case 3) what would I file that under in Quickbooks for my P&L? I assumed I should pay from the photo biz to have a write off and also show income for the STR. Or is it better to not transfer the money for the staff stay?

@Ryan Bakke, CPA thanks for the clarification! What would you file that staff expense as in Quickbooks?

@Ryan Bakke, CPA @Mason Kimball, CPA - The county is requiring more detail than what is on the plot map with our assessor's office. What we have is filed from the early 70's when the house was first built. Do you have any recommendations of site plan services? I've looked online but the reviews are mixed. Below is what our county is requiring. The existing site plan doesn't have most of 2 or 3 provided on it. I left a message for a local surveyor, but beyond that, anyone else you can think of that I can reach out to? Site plan. A site plan is required for vacation rental permit and vacation rental license applications. These plans must comply with the following: 1 - Format. All site plans must be legible and drawn to scale. All site plans must include a bar scale, north arrow, project name/applicant, name of preparer, date prepared, and date of last revision. The plan must be saved as a PDF. 2 - Existing Structures and Features. Show and label the use of all existing structures and outdoor use areas including pool/spa, patios, parking areas, accessory structures, fences and outdoor burning areas (e.g. gas grill or gas firepit), and recycling/garbage bin storage location. Include addresses, dimensions and total square footage of structures. Identify existing roads, driveways, access gate, waterways, drainage features, wells, and similar features. 3 - Parking and Access. Identify the location, types and total number of parking spaces for vehicles on an off the site, and access to the property (e.g. public or private road, driveway).

@Mason Kimball, CPA the property is doing fabulous. The challenge is that we bought this first STR because we knew even though it wasn’t a super amazing income generating option, it would at least break even with the revenue generation, we got the tax reduction using the cost seg/bonus dep, it appreciated in value, and it was in the area we had been dreaming of for 12+ years of someone day owning a place. It’s a 2 bedroom/2 bath with ocean front views, privacy and 10 minute walk to the beach. Having learned about this market, I know that I’m limited by my house to my avatar being young family with 2 kids, a couple for romantic getaways, or 2 couples for friend vacations. If I want to target multigenerational families or larger friend group vacations - then I need a 3 bedroom with a loft option or a 4 bedroom. Those are going to cost me 1.7M-3M to find in the area I’m in. I don’t see how that would be revenue generating worthy. I had someone chekx STRiq for me and my area doesn’t even show up there for data. I looked on AirDNA and my own house doesn’t show on there so I’m not sure how accurate the data is. I’d love to rinse and repeat but we scored a pretty good deal on the house we have and I’m not sure if the universe will grant us another one 😂 I don’t think buying another 2Bed/2Bath in this area would be a good option because I’d be competing against myself and unless it’s on the ocean side and not in the forest side of this community, it’s going to still cost a pretty penny. The ocean side commands higher rental rates but also higher price tags for purchasing.