However, be mindful of the Section 461 business loss limitation, which could restrict your ability to deduct excess losses in a given year, depending on how your rentals are reported.This post does not create a CPA-Client relationship.

The buyer's agent, though excellent, was new and unsure how to handle the situation.

., managing bookings or tenant interactions), which could subject it to self-employment tax.This post does not create a CPA-Client relationship.

You will at the very least be in an excellent area for growth in just about every industry you can imagine. 

Having a rental property in Virginia Beach already is a fantastic start, and your focus on BRRRRs, flips, and multifamily properties shows you’re ready to scale.OKC is an excellent market to consider—it’s affordable, has strong rental demand, and offers great BRRRR potential.

Overcoming Common Financing HurdlesMortgage brokers excel at tackling challenges that often derail new investors:Low Down Payments: Brokers can find lenders offering low or no-down-payment loans, ideal for new investors with limited capital.Complex Income Streams: If you’re self-employed or have variable income, brokers can identify lenders that accept alternative documentation.Competitive Rates: Brokers have the leverage to negotiate better rates and fees, saving you thousands over the life of your loan.Pro Tip: Communicate your investment goals clearly with your broker so they can tailor their search to your needs, whether it’s a short-term fix-and-flip loan or a long-term rental property mortgage.3.

While it may seem daunting at first, beginning with a clean slate allows you to establish clear expectations and build a strong landlord-tenant relationship from the outset.

Relationships are key -this off-market deal was found through a longtime realtor friend and my last seller financed deal was through a landlord/client I worked with for several years. 

I am planning to build a portfolio dashboard for my properties in Excel, and I have a pretty good idea of what I want to see about them individually and combined. 

While not mandatory, a specialized accountant can reduce errors and provide significant tax-saving strategies tailored to your situation.This post does not create a CPA-Client relationship.