This property will require a pool to fully optimize its earning potential, and I've already factored that into my calculations.

I like to believe I earned their trust for when I need to borrow from them again.

To reduce taxes, offset gains with selling expenses (e.g., commissions, fees) and consider a 1031 exchange to defer gains by reinvesting in another property.This post does not create a CPA-Client relationship.

Before I try to sell the idea to them I'd like to have the best data I can on potential earnings, upkeep costs, likely occupancy, and other points like that.

Like anything it has to stay balanced but small gestures go a long way in reducing turnover and mitigating many "would be" issues. 

Purchase price: $715,000 Cash invested: $297,000 Current Price: $830,000 (originally $950,000 on 4/13/2024, reduced by $120,000 in 6 months).

I have some clients who prefer to have a PM for maintenance/contact/rent collection/general management and will place tenants and write leases for themselves in exchange for a reduced rate.  

Once in service, expenses become deductible, reducing taxable rental income.This post does not create a CPA-Client relationship.

Was it included as a credit/debit on the HUD so it should have reduced your cash to close? 

Looking for various tax strategies to reduce the reality that a large RV or boat is a grossly depreciating assetI would not have a loan, so claiming it as a primary or secondary residence and claiming the mortgage deduction is not applicable.I sold my primary residence and I have several rental properties which I use as I'm fixing them up.What I'm pondering is living aboard and working aboard developing a new product, while traveling.