Unfortunately, this problem waste a lot of my time that could be spent on other investments.I have used the same tax professional for many years and he is very educated, but also much older than me and it's hard for me to understand all the reasons he has expressed why is better to put the rental on my personal tax returns.

Self-Employment Opportunities: Would it make sense to start a side business related to my rental properties (such as property management) to access more deductions?

Cash from self directed IRA accounts How did you add value to the deal?

10) Knowing what to do if tenant is late on rent or doesn't pay.There's a lot more, but many here on BP self-manage and learn via "trial by fire".Of course, you can always hire a Property Management Company to handle it for you.

Here's a bit about me and what I'm up to:Background:Industrial Property: I've got an industrial property with about $1.5 million in equity.Real Estate Experience: I've been involved in multifamily properties, developed some industrial spots, and managed short-term rentals.Current Projects:1031 Exchange Plans:Objective: Considerin a 1031 exchange from my industrial property into assets like self-storage, multifamily units, Section 8 housing, or mobile home parks.Request: Given the current market and lookin' for steady returns, which asset class would y'all recommend?

Self-managing is definitely the way to go!

I have all my reserves tied into the project since I did not do funding for these but rather self funded.

. $215k is the offer that is falling through.It's not something we could self manage.

Embarassing self-reply, but if anyone on the internets stumbles on this one. 

By keeping your investments local you may be able to self-manage your properties more easily because you're close-by and already knowledgeable about what's required of you as a landlord.