Hello Forum members
Wanted to get your perspective - Has anyone successfully bought a STR in bay area and by meeting the 100 hr participation criteria been able to do cost segregation and offset against W2 income ?
My situation is that i have a out of state rental SFR that i have dealt with for 14 yrs its got less than $50k loan left… good cash flow >$1000/ mth but becoming a hassle to deal with… I was thinking of selling it ($300k gains) doing a 1031 into the bay area and manage the StR locally (loan $1M @6%) …
Selling would create a $90k tax bill which I would prefer to avoid
Manch, ELT1,Jil …Any advice ? Would really appreciate it - Thank you in advance