Which type of CPA service for my current level of investment?

[Shelley Greene]

Hi BP!

I'm a newbie, and after a year researching, finally jumped in! I am so very thankful for this community and all the knowledge I've gained from  all of you! Now I'm needing help deciding which type of CPA service I should be seeking, at this point in my investment career.

My story: To jump-start my real estate investing, I moved in with my parents, renovated what had been my primary residence, and turned it into a rental in June. In December, I bought a house at auction that I am currently renovating to flip. Both properties are in Tacoma, WA. I've read a beginner's amount on tax implications with rental properties, so I've heard the vocabulary, but I don't have a working knowledge of it. I know next to nothing about tax implications for flips. In the long term, the bulk of my investments will be rental properties, with the occasional flip to boost my ability to purchase more rentals. As I gain more in passive income, or if I find flipping to work well for me, I will be cutting back hours at my job.

My question: Is it more beneficial for me right now to go with a CPA who charges for individual services or one who has monthly plans?

My thoughts: I'm leaning toward a monthly plan, so that I feel free to ask questions anytime, without worrying about the cost, but currently having only one rental bringing in a monthly income, it seems a steep price in relation to my real estate investment income.

In case the question is too broad, here are the questions I know I need help with:

Flip-

-What do I need to do between now and selling to pay the lowest taxes I can? Are there things I should do differently with future flips?

-What do I need to know about tax implications of a flip that as a newbie I probably don't know? (What should I be asking that I don't know to ask?)

-How do 1099's work, when I pay someone for a service who doesn't have a company (or is there a better way to do this)?

-Actually doing the taxes, when tax year 2018 comes

Rental- I probably could figure this one out on my own, but lack confidence.

-Tax implications for expenses from the renovation (how to categorize if it was improvements or upkeep, and how each of those behave in the tax code)

-I read something about needing to qualify as a real estate professional for some of the tax benefits. Explain that to me.

-Actually doing the taxes, for 2017 and on

Thanks for your thoughts!

Shelley