I have not had any issues with doing this on my taxes but I would make sure you consult your account and attorney on this matter.

@Jason Coleman  You can retain consultants who specialize and advocate on your behalf to insure you get the correct amount covered. 

Feel free to DM when you're making the move here and we can connect and get you on a consultation call to hone in what your options would be!

Specifically, I'd like to consult someone during a change in tenancy to make sure our contracts and everything is up-to-date.

I am currently a consultant and I have a CPA but I am hoping to break into real estate investing initially on a small scale and continue to expend my real estate portfolio until it is a full time occupation.

I also teach for two universities on a part-time basis, so that creates a little income, my wife has a retirement income and I do some independent consulting work on the side.

Always consult with a financial advisor to understand the implications.

Do your homework, crunch the numbers on potential profits, and seek advice from experts like real estate agents, property managers, and financial consultants to make smart choices.Good luck!

@Chris Seveney I have an IT consultancy as my main income for the last four years.

I'm taking a break from development right now, but still offering design consulting services to other investors, developers, and homeowners.