You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

Hi there,Congratulations on your decision to purchase your first small multifamily property Here are some answers to your practical questions:### Cleaning Common AreasYou should clean the common areas regularly to keep the property tidy and safe.

I joined NARPM just after I started in PM and it was the best business decision I ever made.   

To qualify, taxpayers must meet specific criteria demonstrating that they are real estate professionals who materially participate in their rental activities.How to Navigate the Rules:Step 1: Identify your real property trades or businessesHere is a list of activities that are considered to be a real property trade or business:RedevelopmentLeasingConversionConstructionReal property developmentReconstructionOperationRentalBrokerageManagementAcquisitionIf you participate in multiple of these activities, you may be able to combine them making it easier to meet the material participation hour requirements.Step 2: Demonstrate material participation in real property trades or businessesThere are seven tests to determine if you demonstrate material participation.

Investors buy shares and earn returns through dividends and potential stock price appreciation.You typically can’t lose more than your initial investment with publicly traded REITs.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

I always make sure that the draws are commensurate with the amount of work (and specifically the trade) performed to date.

I was feeling paralyzed making decisions about what to do, and no joke within 3 weeks of finishing this book I had decided on my next step and was under contract on my first flip property!

We ask for a decision no later than 30 days before the lease expiration.When it comes to rent increases, the market largely dictates what’s feasible.

The realtor was god awful as well though, she made decisions on the clients behalf without their permission multiple times haha.