Avoid C-Corps, as they incur double taxation.Use LLCs for rentals and consider an S-Corp election for flips if income justifies the additional complexity.This post does not create a CPA-Client relationship.

I have a large lump sum saved in an investment account for down-payment and any additional costs.

Additionally, applicants can (optionally) upload tax forms and bank statements for our review.If you're looking for a website you can utilize on your own @Bruce Woodruff mentioned a couple that are popular.

I was fine with all these numbers.Then I met with contractors...First, I wanted to add a new bathroom and approximately 450 sq ft of additional living space.

These are professionals with additional training and a stricter code of ethics.

.* Additional Charges: Jenny requested that I deposit on her checking account an additional $20-25k for her to purchase furniture, which I refused because I thought it was very strange, opting to give my card # instead.* Work Quality: Jenny never showed up to the house, she sent 2 people instead, she never mentioned she would not show up herself, she never asked for approval to send two others instead, they did not complete the job, and there were multiple unauthorized charges on my card.* Receipts and Expenses: Once I brought to Jenny's attention that we were 20k above budget, she refused for days to give me the receipts, saying that I needed to give her my credit card statement first.

An example of that is tenant must pay for additional electric over flat fee / flat limit since now there is 2 occupants in the home instead of originally one.

It also allows you to search 400 property and property owner consumer fields, in addition to being a driving for dollars tool.

Helps you stand apart from similar 4 bedroom homes and if you choose to pursue a rent by the room strategy in can create additional cash flow.

Principal balance currently at 314kProperty Details: It's essentially a "2-in-1" property, with the main unit rented out for $1,900/month and an attached ADU bringing in an additional $1,200/month.