🚀Disclaimer: I am a licensed real estate broker associate in Florida, but I am not a lender, financial advisor, or attorney.

I desperately hope that Rad pulls through this hard time and returns to the successes associated with the investors I spoke to prior to joining.

Your financial background is a huge asset, and it’s great that you’re starting locally in Milwaukee while keeping an eye on future expansion.If you’re looking to connect with like-minded investors, the Rental Property Association of Wisconsin is a fantastic resource for networking with rental portfolio owners, accessing legal resources, and finding contractors. https://www.aasew.org/For mentors, funding sources, and flippers, the Milwaukee REIA is another great group to explore. https://www.milwaukeereia.com/I’m a member of both and find unique value in each—maybe we’ll cross paths at a future meeting!

This is almost regardless of the $600/month extra tax hit, but more so with the $600 extra tax associated with renting.  

The new teaching were something like 50 ways to swindle a homeowner out of their equity; search there garbage to find bank statements indicating how desperate they are; trash talk the property telling them no one except you would buy it and low ball them; have an associate or 2 go by, look at the house, and point out structural deficiencies (just make them up even if they don’t exist).  

For many years I was contacted by the housing office to provide input of my rents, both Section 8 and market rented units and participated in their annual surveys. 

You can use form 3115 to catch up with any depreciation not previously calculated.If you have a condo, it is possible that there is no land allocation.Furthermore, if there were any assessments made by the Condo Association, you want to factor those in as well.

If the property is still primarily for personal use, it could be deemed a personal transaction, making it difficult to justify the associated deductions.

As long as you follow the two-year holding rule and structure the deal properly, you should be able to move forward, but I’d highly recommend working with a tax pro to ensure compliance.Disclaimer: I’m a licensed real estate broker associate in Florida, not a CPA or tax attorney.

My suggestion is to find some real estate industry surveys (via CBRE or others) and look for the MF cap rates in various cities/states/regions.