@Lora Burney That’s a really smart move you’re considering, converting a long-term rental into a short term rental (STR) can open up a lot more income potential if done right, especially since the property is currently unoccupied. To answer your question: ✅ Yes, in most cases, you can deduct startup expenses, including the BNB Academy course, furnishings, décor, and setup costs, as long as the property is placed in service before the end of the year (meaning it’s available for rent and listed, even if it only books once before 2025 ends). That one rental would generally qualify you to treat the expenses as legitimate business startup and operating costs. A few things I’d recommend you do before you launch: 1. Track every expense clearly, keep receipts for the course, furniture, supplies, and any travel or setup costs related to the rental. 2. Set up a business structure (LLC or sole prop) tied to a dedicated bank account so you can separate personal and business finances, it makes tax filing much smoother. 3. Document when your listing goes live m, a screenshot of the live listing or first booking confirmation helps show that the property was “in service.” 4. Start building your digital footprint early, even before guests arrive, create a presence (Airbnb listing, social proof, or small website) so your STR looks credible from day one. You’re definitely on the right track, and the timing is perfect. If you’d like, I can share a simple breakdown of the exact system I recommend for new hosts, from setup to managing guests and automating follow-ups, so you can focus more on scaling instead of the day-to-day work. Would you like me to send you that guide?

@Marcela Paoli congrats on already owning 3 rentals and expanding further! That’s a great sign you’re building real wealth through real estate. Yes, I can absolutely help with both your past tax filings and setting up a clear system for future tax seasons so you stay audit-proof and ready for financing opportunities. Here’s how I’d approach it step-by-step: 1️⃣ Review & Correction: I’d start by reviewing your previous tax returns to identify any missed deductions, depreciation schedules, or write-offs related to your rental properties. Many investors miss thousands in potential deductions here. 2️⃣ Organize for Your Loan Application: Since your loan officer needs accurate, up-to-date filings, we’ll ensure your 2024 taxes and any back years are clean, consistent, and lender-friendly. That helps with faster approvals and better financing terms. 3️⃣ Build a Real Estate Tax Strategy: Beyond filing, I’ll help you set up a system to: Track rental income & expenses efficiently (monthly/quarterly). Maximize legal deductions (repairs, depreciation, mileage, etc.). Plan for future property purchases with minimal tax drag. 4️⃣ Long-Term Growth Support: Once we clean up your filings, we can structure a simple, repeatable process that helps you scale, whether you keep adding rentals or move into flips, short-term rentals, or syndication. If that sounds like the kind of guidance you’re looking for, let’s connect directly so I can review a few details about your current returns and next property purchase goals, that’ll help me map out an exact plan for you. Does that sound good to you?

Thanks for this

@Michel Ange Compere you are welcome 🤗 Interesting take, what made you decide to go in that direction instead of another?

That’s smart. How do you measure what will really working for your business?

That’s amazing, you’ve put in the time studying and now you’re ready to take action, which is huge. Starting with an STR is a smart move, especially since it can give you both cash flow and great tax benefits. Pairing that with your W2 means you’ll really want a solid CPA who understands REI, so you can take advantage of deductions like depreciation and expenses right from the start. You’re on the right path, focus now on choosing the right market, getting pre-approved, and defining your “buy box.” Those steps will get you closer to that goal of closing before November 2025. If you’d like, inbox me and I’ll guide you through the process and share some practical tips to help you get started with confidence.

@Molly Reilly Sounds like you’ve had experience here, what worked best for you in that situation?

@Tatiane De Araujo Sounds like you’ve had experience here, what worked best for you in that situation?