Reporting begins when it's placed in service, not when it’s first rented.This post does not create a CPA-Client relationship.

Sold it early because of my relationship and had to move.

Start small, focus on building relationships, and take advantage of Conroe’s growing market to achieve your goals.Good luck!

Getting Fair deals on labor and repairs comes from developing win/win relationships with contractors.

But what I will say is that he is a disastrous relationship manager.

This approach balances tax efficiency, financing goals, and family considerations effectively.This post does not create a CPA-Client relationship.

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.

For long-term planning, consider transferring the property into a trust to manage tax and legal complexities.This post does not create a CPA-Client relationship.

I’ve built strong relationships with local agents and other investors in the Hamptons, which helped me discover this off-market property.

For now, consult a CPA to determine the best structure based on your income and investment goals.This post does not create a CPA-Client relationship.