I am trying to close on a property in Bryson City NC area. My personal agent advised me he is having difficulty quoting, and Proper Insurance just sent me an email saying they can not insure. Awaiting Steadily, has anyone ever run into this with a mtn property? Suggestions?

@Ryan Bakke, CPA I was able to watch your training on tracking your hours and using the template, which was very helpful, thank you! One follow-up: Can we stay in the property immediately after purchase while we work on it, before putting it into service? I am looking to close on a property this year (time is ticking) and spend December 15-26 fixing it up, staging it, and taking photos. Can I stay there while I am doing this? The in-service date would be the 26th of December. Am I correct that I also need it rented in 2025 for under 1 week? Could this be after the close, before rehab, or is there a correct order?

Does anyone know if I can have a partner and still get bonus depreciation? If yes, does it get split per the cap table?

Hoping to get some answers regarding LLCs: 1. We have one LLC that owns AND OPERATES our STR. First, I'm wondering if that's okay. All purchases go through that business, all rental income, etc. We're starting year 4 with this set-up. IF this is not ideal, how do we fix it? 2. We're about to purchase a business and the real estate the business occupies (2 separate purchases). The service business will rent the real estate. Each will have its own LLC. Can the RE part of this sit under a holding LLC along with the STR LLC?

Where can we find guidance about how to deduct costs for travel for our STR business? We’re looking for ways to combine business travel with family time/recreation and want to stay above board. Would love to hear from other’s experiences