From vesting to keys.

A short-term rental is a furnished home rented by the night or week, usually through Airbnb or VRBO. It can earn more than a traditional lease but takes more work, from cleaning and guest communication to pricing, so many owners hire an STR manager.

Rules matter most. Many Peninsula cities restrict or require permits for rentals under 30 days, and some HOAs ban them, so the right market is often a travel destination rather than your own neighborhood. Before you buy, I'll help you check local rules, occupancy data, and realistic nightly rates so your projections rest on facts, not hope.

When you own a rental, the IRS lets you deduct the building's cost through depreciation, typically over 27.5 years. A cost segregation study identifies components like appliances, flooring, cabinetry, and landscaping that can be depreciated over 5, 7, or 15 years instead, front-loading deductions into the early years.

Paired with bonus depreciation, this can meaningfully reduce taxable income in the year you buy. For STRs with an average guest stay of seven days or less, where you materially participate, those losses may offset other income, often called the "STR loophole." The rules are specific, so talk to your CPA before you buy. I'll find the property; they'll confirm the strategy.