Benefit: Assess whether the cost of hiring a CPA is outweighed by the potential tax savings, reduced risk, and the value of your time saved.Your Comfort Level: Consider how confident you feel about handling your tax situation.

Carrying out a comprehensive property analysis is key to pinpointing amenities that will draw in tenants and optimize rental revenue.Decide on your plan for house hacking- will you reside in one unit and lease out the other, or rent out both units and live elsewhere?

Seek advice from a financial expert or real estate specialist to enhance your comprehension of the real estate industry and funding alternatives.

Property taxes and upcoming assessments are public records.Only you can determine the level of renovation you will want to do on the first turnover and what it will cost you and the cost of the level of maintenance you plan to provide.We have a team that goes in on inspection day and we document every maintenance issue we can find.

Ours went up drastically this year due to rising assessments causing much higher real estate taxes, and insurance went up over 10%.

Meaning, the lender will usually determine the average tax % for the area after improvements have been made and they'll use this amount to determine your debt ratio as opposed to the original/artificially low taxes that are assessed on the raw land.     

Here’s a great book to help with this: Real Estate by the NumbersAnalyze and assess your objectives and goals.Are you on track to meet your goals?

However, typically, property taxes are based on the assessed value of the property and the applicable tax rate.In your example, it seems you're referring to the timing of payments rather than the calculation of the tax itself.

These questions can help you assess whether a lender is the right fit for your BRRRR project and ensure that you have a clear understanding of the terms and conditions before moving forward! 

Good location, appreciation not guaranteed for the next several years.  895k asking price. 101k gross annual incomeExpenses: Insurance: $4,898Electric: 2,579Water/Sewer 5,085Fire Alarm Connection 708Property Taxes (if/when assessment is adjusted to sale price)-31,95130 Yr mortgage (20% down at 7.75%) 61,560Maintenance, Long-Term Capx, vacancy- 9,000 (this is probably a bit low)Total annual expenses: $115,781