All Forum Posts by: John Duston

Would not recommend this strategy. Did you or a legal professional come up with this?

If you're looking for someone local, find a real estate investor with a similar situation and ask them who they use.

@Adam Huynh

Sure, I'm send you a connection request and then DM you.

"It's been on the market a long time and is unique" In this market? Already makes me worried about who good of a deal this is.  In terms of partnerships, LLCs are great as you (read as "your lawyer") can write dispute resolution tools and processes into the operating agrement.

You may want to consider living in the property for 2 years so you can get Section 121 exclusion of gain on sale of primary residence, especially during our market. I don't know any real estate-focused CPAs in the Philadelphia Suburbs. I'd find a local investor and get a referral or consider remote CPAs.

@Will Barnard

Exactly. I often advise clients to get professional advisors as line 1.5

What kind of CPA are you looking for? IE real estate, business, crypto, budget...

Most likely, your personal name.

Typically, yes. LLCs are a tool for liability protection that we often use.

I think you should get quotes from cost segregation professionals. If you read over a cost segregation report, most of it is talking about the person's experience and qualification for coming up with their judgment.