This is definitely a nice tool to have if you want to use it to buy a new property in all cash, but keep in mind that you'll need some type of takeout loan after the purchase to payoff the Heloc.

My CPA is saying I cannot offset accelerated depreciation losses against my w2 income as I have a 2nd home loan, but I heard in Brandon Hall’s podcast that IRS has a different definition of a 2nd home than what is used for mortgage.PS: I think I need a better CPA.

My definition of market rent is the price where I can READILY (without delay) find and KEEP a GOOD QUALIFIED tenant.

.: I’ve been using Stessa for a while and definitely appreciate the value of having a CPA who knows how to leverage the platform for tax planning and strategy.

Definitely won't be doing anything risky with my first purchase.

(I can't remember just how fast they were, to be honest).If you haven’t tried that yet, definitely give it a shot.

If your wholesale opportunities ever expand into larger multifamily, definitely reach out to me since I am a full time real estate investor and active buyer for cash flow properties.Enjoy BP!

Typically, tangible personal property qualifies, but real property does not unless it meets the definition of qualified improvement property.* The importance of consulting a CPA—The Section 179 election can be a valuable tax strategy, but it’s also complex and should be made in the context of your entire tax picture.

House hacking with friends can be a great way to share both the benefits and risks, but you definitely want to set the right expectations from the start.The key to making this work is transparency.

It can be tricky managing properties in East Cleveland, but I don't think it's that much different than managing properties in C and D neighborhoods, it's just a bit more tricky with getting contractors over there, but I'm working on a listing in East Cleveland and had a contractor do a bunch of work on the property and didn't have any issues.Another issue with East Cleveland is they have point of sales, but Cleveland is going to start doing that soon, but definitely adds unnecessary costs when margins are everything.