Indiana, first rental property up/down

[Matthew Heffernan]

Hey all!  I’ve finally pulled the trigger and now a few weeks from closing on a 2 unit in my “back yard”.

While I've read about many tax / write off advantages to investment properties, I wasn't planning on getting an LLC until my second property maybe next year.

My wife is an agent.

We plan to pour 15k in rehab right away.

I'm looking for any advantages/write offs that I could take advantage of (or my wife as an agent) without getting an LLC.

Thanks!

[Matthew Heffernan]

Thank you! Yes that’s helpful!

I am trying to find a CPA locally that is real estate knowledgeable but to no avail, I guess I could always reach farther toward Indianapolis and find options.

Take care!