You probably need to report if you are a corporation, LLC, or HOA.For more information:US Treasury dept, “Financial Crimes Enforcement Network”Disclosure: Janet I.

This website is amazing for education, networking, and so much more. 

Plus, if you add on a renovation loan like the 203k or homestyle, that will be a grand slam.I highly suggest checking out some of the networking events:  https://www.biggerpockets.com/forums/521-real-estate-events-...

Established flippers have the resources and networks to build close relationships with contractors, making it relatively easy to coordinate compliance at minimal cost.

Working with a CPA on your tax strategy will definitely help ensure you’re getting the benefits you’re after.Good luck with the closing!

I have a CPA I work with who I’m sure will sort all of it out, just didn’t want to do something if it would cause a huge tax headache later.Do you know if you convert a STR to a LTR after a cost seg, will it cause a large repayment of taxes (I’m doing the cost segs to lower my W2 tax rate).

Also, start attending seminars and networking events.

And if you're investing in a syndication that typically produces K-1's late in the tax season (such as a GP fund) this can make things very tight and/or cause extra tax bills from having to do estimates extra tax work with your CPA.  

My wife and I have a company that invests in the Toledo area, additionally we are still building out our network.

*This post does not create a CPA-client relationship.