Carolyn Frances McBride

Yes, you can qualify for the STR tax loophole even with only two months left in the year. You'll need to meet the 100-hour material participation rule by actively managing the property—tasks like updates, repairs, and managing bookings count. Or you could meet the substantial participation rule that has no hour requirement. The property also needs to be rented for fewer than 7 days per guest on average. While there’s no specific number of bookings required, having at least 1-2 bookings should help.

I'm currently doing research to prepare for purchasing a multifamily unit in the Cincinnati metro area. I'd love to start working with a property manager who can firstly guide and educate me on rental trends and microeconomics for each neighborhood (or even by block). And secondly who could manage the property after it is purchased and is made ready for the market. Any recommendations would be appreciated. Looking forward to connecting and learning more about the area!

By Carolyn McBride The winter of my life came in January 2021. Although I lived in the endless summer of sunny Florida, we were well into the pandemic by then, what seemed like an endless lockdown, and I was working from home in a bedroom right above my then-husband’s office. My department manager pulled me into a virtual meeting, and five minutes later, I had been laid off with nearly everyone else at my level in the biotech firm.