A sub S election will probably block the free stepped up basis benefit though.

Some people just are NOT cut out to be landlords.

why do people pay $20m cash for a manhattan condo?

There are two kinds of people in the world.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

@Emily Shin landlord experience is invaluable for a career in rental real estate.It's not something you may want to do long term, but the experience can help you select and manage PMCs.

Most long-term lenders will use an AMC to select the appraiser.

., unfortunately, to add to the frustration, Buildium's journal entries do not allow you to enter a vendor for the expense, you can only select which GL Account to debit and which payable to credit, so I'd still be stuck not able to track vendors for 1099's, see below.  

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.

Why do people who say the only people doing well today are the people who bought long ago (10+ years)?