Pairing this with a multi-year acquisition/cost seg strategy (accelerating depreciation) is how high earners in growth mode can significantly reduce their tax bill. 

In 1-2 years you could save enough to purchase a home to house hack.

I won’t pretend to be an expert by any means as I have only been at this for 4 years and have 5 properties, but I thought it could be helpful to share actual numbers and different ways to look at them.

BPCON happens every October, this year is in Vegas Oct 5-7th good to get some practice in going to local networking events because BPCON is like drinking from a firehose, in the best way possible though!

I am confused as to how to report this.

The key for me wasn't to invest in the 'best place' but to know a market so well that a deal jumps off the page when it appears.

To get an umbrella that covers my net worth, it would cost me $600 more every year.

@David Avetisyan If you sell your home for $510K and provide a $10K seller credit, your taxable gain is based on the net sale price of $500K ($510K - $10K credit), as seller credits reduce the gross selling price for tax purposes.Tax Impact in CaliforniaCapital Gains Calculation: Your gain is the net sale price minus your adjusted cost basis (purchase price + closing costs + capital improvements).Primary Residence Exclusion: If you’ve lived in and owned the home for at least 2 of the last 5 years, you may exclude up to $250K (single) or $500K (married) under IRC Section 121.California Tax: Capital gains are taxed as ordinary income at rates up to 13.3%.The $10K seller credit lowers your taxable gain.

I’ve been investing in Detroit for years and built my 12-door portfolio there, generating $16K/month in gross rents.

Is there a place to find Private Investors as in one person?