As a contractor and cabinet maker it made much more sense financially to purchase a home with a rental unit and manage the property myself.

Next up is a huge financial hit: closing costs.

Ready to learn, grow and gain financial freedom and generational wealth.

Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.

The teacher was an actual financial educator but they repeated themselves a lot and were telling the students to go in and apply for credit cards DURING the course to purchase the next course for $15,000!

He decided to switch to a finance degree with the goal of financial advising and real estate investing. 

For liability purposes our financial advisor is recommending creating a LLC for managing all of the STR stuff.

@Andrew Drasch As an entrepreneurial CPA, I believe that mastering your craft is essential, and that investing money strategically leads to greater financial success.

Quote from @Shawn Questa: Hi all,I am curious what some of the Pros would do to Help a Seller in this situation while making a Deal happen.I found a 200+ day old MLS Listing where the Agent said the Seller is in Financial Ruin, hasn't Paid the Mortgage in a year, owes about 180k on an approx. 210k House and multiple Buyers have backed out.I don't know how someone could not Pay their Note in a year and not at least be in Pre-foreclosure. 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.