Topic

Elisa just made partner at a local public accounting firm. She receives a salary of $90,000. She decides to purchase another home in Colorado that she will rent out via Airbnb when she's not there. She would like to spend the summers, & a few weeks in winter, in Colorado, but will stay in her condo in Portland the rest of the year. She will receive $250 per night from Airbnb when it is rented. She will also hire a cleaning company that will come after each guest. Some other expenses will include keeping supplies stocked (toilet paper, coffee, etc.), buying some additional supplies, such as a smart key lock, new sheets, a new coffee maker, blackout curtains, some additional maintenance that will be required due to having extra people in her place (painting touch ups, special carpet cleaning, etc.), and there is also depreciation of this second home & its furnishings. She pays a mortgage on the house and annual property taxes. Depending on how this all works out, she's contemplating renting out her condo when she's in Colorado as well.

Question

Using the tax law, determine how these items will affect her taxes, and if you would recommend also renting out her condo or not.