Hello! I am looking for some advice on STR insurance. We are converting our old primary residence that we lived in the past six years (we moved out June 2026) into a STR. We still have a home loan through the VA on the property. We currently have homeowners insurance on the property, but understand that we need to update this to reflect additional policies such as loss of income and an umbrella policy. The property will be placed in a single member LLC. My questions are: · Can anyone recommend an insurance company to reach out to about this to set it up? · Does anyone have a recommendation of what policies to get for STR insurance? Perhaps even recommended coverage amounts. · Could converting it to a STR trigger any “payback” of a mortgage loan? Has anyone experienced this? It’s our first time going through this process, so any advice on the insurance side of things is more than welcome. Thank you!

Little crunch time to get everything to the team by the 7/15 deadline for the extended filings (but got it done!). I was using Wave for my non real estate which was fine albeit all manual … Stessa failed me big time on missing imports etc. I’m considering moving to Xero or QBO… the reviews seemed pretty good on Xero and they are half the price - also have Claude connectors etc. Anyone use them? Also if I’m going to make a shift I might as well better adhere to the format the tax team needs to file - can someone point me to the chart of accounts file that Ryan recommended?

Hey everyone. Happy to join this group. I have a question in regards to whether anyone has experienced an IRS audit on an STR purchase and won where you manage the property remotely and availed yourself to the STR tax loophole in particular to the 100 hour material participation test where no one has done more hours than you. @Ryan Bakke, CPA I believe you mentioned the IRS has come and performed 7 audits on your clients where you have won on all of them. Was anyone managing their property remotely? My CPA believes I would fail the audit if I wasn’t within driving distance to the property and that I would have a hard time demonstrating material participation. I disagreed but was curious to hear other opinions.

@Mason Kimball, CPA - I was directed to reach out to you for quarterly tax filing for Monroe County. Would you be able to help me?

Is there a Coffee chat with Ryan session at 10 am today - July 10?