An annual business tax as a hotel of $50 and collection and remittance of transient occupancy tax of 12% from renters is required of all short-term vacation rental operators.

Revisit your strategy annually to adapt to changing goals and market conditions.Good luck!

Good transaction accounting.

However, in California, each LLC incurs an $800 annual franchise tax plus gross receipts fees if revenue exceeds $250,000, and property insurance may cost more.

There is roughly $275k left on the mortgage and its value is est $430k.We have a brokerage account w $300k that considered as discretionary investments because we also have 401k contributions and emergency savings.Our options we're reviewing:1) Do nothing.

They should be able to determine the COC, annualized return, estimated ARV of a BRRRR, accurate rent comps and more.

@Jacob HavlovickBigger Pockets is a great place to find a real estate tax accountant.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.

To replace your income you need to flip a lot of houses, I'd do the math with an average 10-15% profit margin, because you have to account for some turds.The other opportunity is to change your job and take out the element that you hate.

Bigger Pockets is a great place to find a tax accountant specializing in real estate taxation.

In our area, the housing authority does annual inspections to (mostly making sure the landlord is keeping up the units) review the tenant and the landlord.