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Updated over 6 years ago,
New to real estate investing
Hi,
I'm new to real estate investing with a day job in tech (surprise, surprise living in the Bay Area).
I acquired my first and only property in Jan 2017 - triplex in the Mission district in San Francisco, CA and am living in one unit. I'm interested in tax lien investing in Arizona as an investment strategy to keep on the side. Anything more involved seems overwhelming on my own.
Would appreciate any thoughts on the following :
1) I hold the triplex in my own name. I do not have any legal entities. Should I, especially if I start tax lien investing in Arizona or another state?
2) I have a separate personal back account where I deposit rent checks and pay for most expenses and even pay myself rent. Should I have a business account?
3) Can I deduct real estate investing expenses/trips considering I do not have business bank accounts, have no legal entities setup, and I have a tech office job (I spend the majority of my week on my tech office job)?
4) Recommendations on real estate tax advisors? I'm in the Bay Area, CA
5) Recommendations on legal advisors?
Thanks Bigger Pockets community!
Melissa