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.

@Ryan Fox it's important to make sure you understand the pros and cons of rental arbitrage to see if it meets your personal investment and financial goals. 

It will also be dependent on the previous year's financials as well.

A good tax 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 business taxation, financial planning and tax planning.I would also recommend looking for a accountant willing to work with you throughout the year.

That said I like to be able to run year end reports with an estimation of tax liability so I can provide financial statement information to investors/etc.

@Sakib KhanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Joseph M. prices have certainly gone up with the rest of the country through this great recovery since the financial crisis.

I think it would be financial suicide to give up a 500k a year job that you know how to do and is secure to launch into thinking your going to replace it with rental income.. unless your sitting on 5 mil plus in  cash with no debt.

From my experience, when I dive into the costs associated with building an ADU—including construction expenses and financing options like hard money loans—it often doesn’t make financial sense.

My question is that due to numerous unfortunate circumstances, two properties that my partner and I purchased (through a program) were underscoped, and we cannot move forward financially.