Failure to meet material participation rules will limit rental losses to offsetting passive income or carrying forward.This post does not create a CPA-Client relationship.

Just be mindful that you can't 1031 a personal residence but it might be eligible for capital gain exclusion from section 121.

Consult a tax professional to optimize deductions and explore strategies like Real Estate Professional Status or short-term rental loopholes to apply depreciation to non-passive income.This post does not create a CPA-Client relationship.

Since I don't have the experience that I aspire to have yet, I'm looking to create a relationship with some guidance without being taken advantage of.

As we continue to grow, it's becoming clear that we need a solid system to manage all our leads, nurture those leads, manage owner relationships, and property details so nothing slips through the cracks. 

I specialize in investment properties, high-end homes, and commercial real estate, and I run Updegraff Group Realty, a full-service brokerage that helps investors not only find and fund deals but also manage construction, optimize returns, and scale their portfolios.Financing Your First Deal Without Using Your Own MoneyIt’s a common question, and the truth is—it’s very doable, but it requires strategy and relationships.

High earners should also consider estate planning tools like trusts or Family Limited Partnerships (FLPs) to minimize future tax burdens.Given his income level and tax complexity, consulting a real estate-focused CPA is essential to maximizing deductions and optimizing tax efficiency.This post does not create a CPA-Client relationship.

Multifamily is all about relationships, and it sounds like you’re building the right foundation.

It’s not just awkward—it can jeopardize trust, relationships, and, ultimately, the deal itself.Here’s how we ensure success:1️⃣ Weekly Syncs: Regular team check-ins to align on progress and updates.2️⃣ Shared Systems: Use tools like Slack or Asana for real-time collaboration.3️⃣ Transparency is Key: If you don’t know, say so.

What I wrote above does not create an attorney/client relationship between us.