I actually keep a list our bookkeeping firm recommends based on firms/individuals we and our Clients have had good experiences with as well as I've personally had good experiences with.

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

So many intellegent and supportive individuals on here, you will get out what you put in.

🙌 I love your focus on helping others achieve financial freedom through real estate – that's what it's all about!

A good real estate accountant can save them thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend that they find a tax accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend that they look for a accountant willing to work with them throughout the year, who can help them strategize and who is responsive when they want to know the consequences of the financial decisions they are making throughout the year.Good luck.

I've also held of holding properties in individual LLCs that are owned by one S corporation, which allows for a 60 / 40 split between ordinary income (regular tax) and dividends (capital gains tax rate).With the goal of minimizing taxation and liability protection, what would be the recommendation from more experienced people here?

When you start raising money, the kinds of investors you're going to get are individuals who want to make a better return than the stock market. 

I would think in most situations the original owner is in financial trouble, probably delinquent on their mortgage and facing foreclosure.

But I think it has more to do with how different individuals handle what is technically an invasion of their space and privacy.

Moreover, for someone in your position just starting, it's best advised to partner with an experienced individual to mitigate risk and adequately learn the process.