If your friends have a rental they should hire a tax professional. 

Contributions to SEP IRAs can be done after you file your taxes.

Since you're looking to expand into Florida and other states, I'd recommend starting by narrowing down your focus:Market Research – Florida has great opportunities, but each state and city has different laws, taxes, and demand drivers.

While no renovations were required, Partner Driven’s market research, funding, and negotiation expertise added significant value.

Companies choosing new locations look for these key factors:Metro population over 1 Million: Companies require access to a large, skilled workforce and established infrastructure.Low Crime Rates: High crime deters both businesses and residents.Low Operating Costs: Companies prefer locations with lower taxes and fewer regulations to maintain competitiveness.Low Risk of Natural Disasters: Companies avoid areas prone to natural disasters that can disrupt operations.

Self-Directed IRAs (SDIRA) or Solo 401(k)s allow tax-deferred or tax-free real estate investing, though they come with IRS restrictions.

I'm more familiar with the residential side of RE, being part of many remodels and home projects, but would like to have expertise in both commercial and residential.

So often rentals don't have taxable income; and once they do it's still not subject to the payroll taxes paid by W2 wages or on self employed income. 

As I continue to gain experience and work toward my goals, I’ll be sure to leverage my team-building skills to establish a strong foundation for success.I also look forward to tapping into your banking expertise as new opportunities and questions arise.

- Joint ventures are partnerships where two or more parties pool resources, expertise, and capital to achieve a common goal. - The benefits: - Access to deals that might be unattainable individually. - Shared expertise (e.g., one partner brings market knowledge, the other brings financial resources). - Diversification of risk and reward. - Accelerated growth through combined efforts. 2.