Properly executed, an investment in these types of property can garner substantial passive losses, often equal to the amount of capital invested (or more) even in years where the benefit begins to sunset.A few words of caution: - The tax benefit is valid as long as the gain incurred from the sale of your properties AND the investment with bonus depreciation occur in the same calendar year. - Be careful not to let the "tax tail" wag the dog.

You must properly treat the LLC / Rental like a business.Rents get deposited into the LLC Account.Expenses get paid out of the LLC Account.You can make contributions / distributions to / from the LLC Account.Try not to receive rents or pay for expenses directly from your personal account.Best of luck

Now proper accounting is still important because bookkeeping is the first and best tax strategy for most people but there was a huge time difference in the services performed.

Quote from @Dawn Hunt: Quote from @James McGovern: What is needed to Increase the number of Women Investors?

Sometimes if there isn't an agent involved (or an agent that isn't properly engaged) the software will use incorrect assumptions due to errors in public record and available data. 

I believe the water damage is the root cause of the mold problem, and I’m considering filing an insurance claim to cover the repairs and remediation.For those who have gone through this process, what steps should I take to ensure the claim is handled properly?

-Where can I find a software to purchase or should I create my own excel to properly make sure that each deal would cash flow before I purchase?

My seller has confirmed a seller credit as well, but it's less than 1% of the loan so I'm on the hunt to continue finding funds and reducing my cost out of pocket.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

'Tis the season for CPA hunting.