I agree with Bill.  $17K / 299 days is $400/week.  In what state can I rent a $2.5Mil home for $400/week?

I don't do enough of these to know the rules cold.  Mostly I'm just thinking out loud here.  With that much personal use you should be hitting a 280A limitation preventing just about any loss.  Exceptions would be for RE Tax and Mortgage Interest IF this qualifies as a second home.  RE Tax will end up with other taxes and the total would be limited to $10K, so I can't imagine any of that would be allowed.  Mortgage interest would be limited to interest on $1M of acquisition debt.  Some of that *might* be allowed but ProSeries isn't going to be able to apply the limit, you'll have to do it manually.

Rick