That certificate would show open taxes, water, housing violations, citations, condemnations, receiverships, construction liens and other municipal liens.

How is it for preparing taxes? 

In addition cash flow is taxed annually.  

You will also have a credit on statement for pro-rated taxes due to buyer.  

I will spend around $5000 - $7000 a year for tax planning and filing.

Then I have to file a tax return for my LLCs.

Real estate investors often find themselves working with many providers between insurance, financing, property management, tax preparation and strategies, etc.

@Wiey Underwood Prior to pulling the trigger on a Cost Seg study, you should evaluate 2 things:1 - How much net additional deprecation tax deductions a Cost Seg study would provide: Best way to get this is by requesting a free feasibility analysis from a Cost Seg provider.

Also be aware of Unrelated Business Income Tax (or UBIT) on leveraged real estate inside of an IRA.Or better yet, since you are self-employed - go with a truly self-directed Solo 401k plan, which would be a much better option and will help you avoid the UBIT on this investment.

The entity you select can impact everything from how you're taxed to how you protect your personal assets.LLCs are often the go-to for real estate investors because of their simplicity and flexibility.