A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

I would look at private money lenders who can consider giving your a line of credit based on a multiple of the cash you have. 

Some portfolio or private lenders may waive this rule, so it’s worth exploring.While waiting for the 6 months, finalize renovations, stabilize the property with tenants, and ensure all paperwork (leases, receipts) is organized.

LLC will not help you with tax savings for now.

Luckily I had war fund saved up for the HVACs, roofs and foundation repairs I needed.

I know people who do STR in their house, but it's as private as possible.

The other thing to note is most times Pref equity is pretty save assuming a 10-20% market correction but in 2021-2023 we saw a 30% correction meaning pref equity in deal specific deals were underwater without any options.

Unfortunately, I couldn't purchase it this year but I just need to keep saving, analyzing deals and at some point I will be able to purchase it. 

STRs have unique tax considerations, so setting up the right systems early will save you headaches down the road!

Use private money lenders and choose a conservative market.