But weigh the costs of insurance and taxes against the cash flow and make your decision accordingly.

The property is distressed (unpaid taxes for 2 years).

Readers should seek professional advice.Hello Ashish,Would love to connect and discuss a little more about the potential tax aspects of all this.

Those non-cash expenses definitely helped us out during tax season.2.

planning to list them for 2024 taxes as 6 different properties and when rehab will be done , I will get all 6 deeds, can I sell individual condo and 1031 based on basis I will show?

Investing always looks scary I don’t wanna lose money. my monthly payments are 3k including taxes I am in NJ so property taxes on an acarage house is still high Investing can be scary. 

You can find us online.Current Ideas: Video Series on Passive Investing in MHC, Tax Benefits of MHC, Investing through 401k etc. 

An LLC doesn't make a difference in your federal taxes or what you can deduct.What you want to do is technically possible, but there are several hurdles. 

@Steven HsuBigger Pockets is a great place to find a real estate tax accountant.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.

It probably be best as a friends-and-family type loan, but I don’t have anyone around me that is an appropriate lender.If I have to, I can put the funds in myself, but its inconvenient, and would come from investments that would need to be sold, taxed, etc.