Is the Turbo Tax software a reliable option for doing taxes that include real estate investments, out of state, personal?

By forming a property management company, you could deduct business expenses like office supplies, software, and possibly a home office, which you wouldn’t otherwise be able to claim.

Hope that’s kosher…You might also want to consider moving your notes to a servicer, thus you'll be in compliance with all applicable statutes and other crazy regulations spun up by Liz Warren. 

The software allows me to generate custom reports on my rental income, expenses, and overall performance.

I saw people do remote management for short term rental, wondering if this can be also applicable for a remote long term rental. 

If the unit is in good condition and is priced competitively, you should get at least one application.

They might be a good fit for your situation since DTI isn’t applicable—underwriting is based primarily on the property’s income, not your personal finances.

I re-rented one side of the duplex I have and had 29 applicants just for the one side. 

Also, we require a 620+ minimum credit score for all applicants, and anyone 18+ must apply.

If your tax situation isn’t too complicated, you could try handling it yourself using good software, but if you want peace of mind, a CPA could be worth the investment.Since your parents have experience, you might lean on their advice while you learn the ropes.