They can also give you a better idea of how much you should be prepared to pay so you can cruise through your closing with confidence.And as you plan ahead for closing day, be sure to budget for your real estate agent’s professional service fee too, in case the seller doesn’t cover it.

You’ve already got a head start with hands on experience.. and you’re probably way more prepared than you think.That first property can feel both exhilarating and terrifying, so here’s what I’d focus on:Cash Flow & Analysis..

@Phil SheltonYou would need a civil engineer to provide a drawing to get submitted to zoning and get a permit if it passes zoning is most common This also depends on the road - if it’s a state road forget it as it will take a year to get approved and cost a fortune - if it’s a local road process not as cumbersome but don’t expect this to happen quicklyIn some instances you may have to prepare sight distances etc to make sure it’s safe to add a curb cut

Thoughts?

I've seen folks charge as high as $5,000 to $10,000 for tax planning and tax preparation, But i also know high quality folks that have fees are around $1,200 to 2k.

Plan for a smooth transition: Respect the notice period and prepare for any potential disputes.

We were surprised that Kiavi never thought to call the vendor of their software, or a database technician, to fix this.We provided the requested copy of our LLC articles of organization.

Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?

Could be that the funds that bought the loans are liquidating, or it could be repositioning in preparation for future business.

.: @Don Konipol Thank you so, so much for such a detailed, thoughtful reply (with examples)!