We purchased a short term vacation rental with license to rent in Hawaii 2023. Due to deferred maintenance we purchased new air conditioning system replaced furniture that had termites and replaced mini appliances that did not work.
We found out the hard way it’s important to be in Hawaii when work is being done. Otherwise the work does not get done so we made trips to Hawaii to supervise and be involved in fixing the condo Ourselves.
Ordering anything in Hawaii takes months to receive.
car rental prices were very high so 2024 we purchased a car. Our CPA said we did not qualify for a bonus depreciation on the car.
would it be better for our full-time home to be in Hawaii?
Currently, we have a home in California where we have lived for 40 years
We also have a working farm growing soy bean and corn in Illinois
all three states have extremely high taxes