Not only do they not repay funds, they claim we owe them additional funding for renovations that never actually happen. 

Additionally, your parents might consider a reverse exchange, where they purchase the replacement property first and then sell the relinquished property.

Now I am starting off on my own doing traditional wholesaling in Central FL, with an additional bonus of being able to offer low equity mirror wrap solutions to those who are in need.

Have you decided to acquire any additional investment properties since then?

Additionally, the estimate for my tax preparation for this year was approximately $1,000 over the cost I paid last year (including the time I paid for them to correct their errors).

good luck, let us know how it goes and if you need additional insights.

This is a great way to build experience and get some quality rental properties under you while keeping your liquidity up to go find additional properties.

Additionally, we rented out a room for one year.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.