Consulting with your CPA and discussing any concerns or questions you have about the approach can help ensure that your tax return accurately reflects your income from rental properties while minimizing compliance risks.

(My spouse just landed her first gig and is projected to start in November 2024) and we are ready to invest starting fresh in 2025 with minimal payments left on loans, etc.

With $1mil could probably generate $4-5K net per month comfortably with property management or minimal work self-managing. 

Back in Canada no real assets, we are current staying in a in-law set up paying very minimal rent.  

We redefined our search criteria, lowering the number of doors and started looking at more tertiary markets, with the thought of minimizing our debt and purchasing a couple of properties.

The last rate hike request got denied by the insurance commissioner and there will be a hearing sometime this summer I believe (I’m sure a rate hike will follow but not the one the insurance companies asked for) weather events certainly can impact but typically it is just a quick in and out hurricane and of course, hope for minimal damage to property.  

I’ve tried eating 1x a day for 1 year (Not healthy for me) and various water fasting protocols to eventually settling on my current lifestyle of: 1)Taking stairs daily 2)Intermittent fasting of 16 hours daily/ 3-4 Day water fasts Quarterly3)Mineral consumption daily using Fulvic Acid, Icelandic Kelp, a powdered Electrolyte to regular water, Spring Water (Minerals are ESSENTIAL to hydration) 4)Daily Fruit consumption 5)Grass Fed, Grass finished Beef 6)Minimal Fried foods (I still LOVE French fries) 7)No seed oils (only Tallow, butter and/or avocado oil) 8)Cut back on white flour and grains (Minimal breads, pastry, pasta) 9)No soda 10)No dairy (Cow’s milk is for baby calfs)11)Minimal alcohol (Maybe Vodka or Tequila RARELY) 12)At lease 7 hours of sleep daily13)No watching CNN, MSNBC, NY TImes, Washington Post, NPR or ABC, NBC, CBS…………….

Implement sustainable practices, such as Leave No Trace principles, to minimize your ecological footprint and preserve the natural beauty of the area.By carefully considering these factors and doing thorough research, you can determine whether renting out camping areas on your land is a viable option and how to proceed effectively.

I do expect the 7.8%/year annualized gain to slow down due to long leases with my tenants with minimal gain in NOI every year moving forward.

They were understanding and only made minimal attempts to try and persuade me to stay.If you've been considering making this transition but thought it would be difficult, hopefully, this will be useful in your decision-making process.