u/Turbulent-Breath7759

Wife and I both work full time and we are closing on our first rental property. I talked with my cpa today and she basically said that there’s no way that I’d be able to justify utilizing the STR loophole given our current situation.

She threw out 700 and 1000 hours as target minimums. She also does a fair amount of IRS representation, so I do trust her judgement. Im ok with being slightly aggressive from a tax planning standpoint, but there’s a difference between aggressive and foolish.

Figured I’d ask out of curiosity though if anyone has done this with just one property. Thanks!

Brand new here, as we just went under contract to own a STR. At this juncture, Im fairly certain that I don’t want to manage everything on my own due to time constraints. So I’ll likely be hiring a local agency to manage it.

One thing Im admittedly turned off by is that if I work with this company for a while and I end up wanting to leave for some reason, they own my VRBO and AirBnB listings, which would be wiped out, leaving me starting from scratch in regards to review history, etc.

Couldn’t I “own” my own listing and they manage it by utilizing my login credentials? I just don’t want to feel trapped in case they aren’t effective.

Again Im brand new to this, so I’m open to any and all feedback. Thanks!

I have a third party lifetime powertrain warranty through Fidelity, which covers my 2024 Platinum Hybrid. I just confirmed with the warranty company that they go by manufacturer standard tire sizes as a base, and any tires not listed as acceptable by the manufacturer would void the warranty should something go wrong with the engine / transmission.

My understanding is that third party warranties can be a bit more strict than manufacturer warranties. Just wanted to put that out there as a nuance, since this is a question often brought up.

I was planning to install bilstein 5100s to level the truck and bump up to 34s, but that plan is now out the window. Oh well.

Had a lengthy conversation with my service rep at Toyota (I’ve gotten to know him pretty well). He said they’ve only had 2-3 engine failures in gen3 tundras. Doing a lot of recalls, of course.

They’re one of the largest Toyota dealers in the state and they move tons of Tundras.

The chicken littles out there will of course assume that this man is lying.

Figured. I’d leave that here.

My stock tires are starting to wear on my 24 Platinum, and as of now the plan is to put Bilstein 5100s on the front to level it. Assuming I move forward with this, realistically what tires can I throw on there without any rubbing? Seems like there are mixed opinions throughout the web and forums. I don’t necessarily care about maxing tire size (35s etc). Leaning toward 33s or at most, 34s.

Anyone have any guidance? Thanks in advance.