First Year with Rentals (1 so far) and do I need a CPA?

[Jamey Meints]

I close on my first rental 4-3 in a college town and I want to set it up right.

Can anyone provide a good reference for a real estate savvy CPA. I live in the Northern Virginia area and the property is in Virginia

Had a conversation with a CPA with 40 years experience, but when I asked leading questions (deprecation, self-employment tax, etc.) his answers conflicted with my research.

The big question I have is if I can be classified as a Real Estate Professional. I have a W2 job with a top 20 general contractor as a Development Manager. My duties focus on development of commercial and large multifamily properties from land acquisition thru operation.  Over the last 5 years I have been the manager of three 400+ unit apartment complexes in the DC Metro area.

Thank you for your help,
Jamey

[John Duston]

I'd say it depends on what your future plans are and your personal competence with finances and law. If you just have one rental and only plan on having one to two rentals and are great with finances, you don't need a CPA. If this is the start of an investing career, I'd find a CPA. While it would be a huge added bonus to find a CPA  you can grow with over time, the most important aspect is finding one who know their real estate taxes.