Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.

Is there a way to access the additional features without creating a new Stessa account through the BiggerPockets link? 

I also make sure to specify in the lease agreement that I need proof of coverage before move-in and that the policy should name me as an “additional interested party.”

What would be my best route to take if we need additional finances?

Recapture typically happens only when you sell the property.If you use the property partly for personal use and partly as a rental in a given year, depreciation and other expenses must be prorated based on the number of days it was rented versus personal useBased on the current tax laws and regulations, once you've taken bonus depreciation on an asset, you cannot "capture" additional bonus depreciation on that same asset in future years, even if the rates increase.In the 2024 tax year, the rate for bonus depreciation is 60%.

In addition, the gas bills have shut off notices and are not being paid. (3 units are occupied and utilities are all paid by owner).

We're based in Tampa and, in addition to personally investing, I own a mortgage company that provides financing for tons of investors.

Whether the seller was open to a buyer commission or not, I wouldn't put an additional cost into any personal purchase.  

- Are there any resources / you tube vidoes/ or additional BP Videos I should be looking at- If anyone is so kind, would anyone be able to give me a tutoring lesson for any hour, and if so, I am willing to throw a little money for their time.

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