It kills me but I recommending to some potential clients to not buy currently. 

Accurate records of all expenditures are essential to claim deductions and calculate the cost basis for future capital gains taxes, including depreciation recapture.This post does not create a CPA-Client relationship.

I'm not a typical Realtor perse looking for clients so I don't need the trust factor that may go with the REALTOR symbol in my marketing or anything.

Disallowed losses under wash sale rules increase the cost basis of replacement securities, potentially reducing future taxable gains.This post does not create a CPA-Client relationship.

LLC offers no tax savings.This post does not create a CPA-Client relationship.

Hey @Joshua Houchins, we use QuickBooks Online exclusively for all of our REI Clients.

One of my clients picked up a duplex in Albany Park last year, and the rental income not only covered the mortgage but also gave him extra cash for daycare expenses.

Last thing to look at (and right out of the pages of our client's own experiences) might be starting a transition of wealth in the form of using 1031 strategically to purchase property that your heirs live in until you pass and they inherit. 

That is the biggest challenge I have with my clients.

We invest in 38109 on a limited basis when a client requests properties in the area, but further north and east.