@Brandon Ja - The standard answer here is to check with your CPA, but from my standpoint expenses that add longevity and functionality to an existing property (including adding square footage) would make that a capital expenditure that can be depreciated over time.

Yes, there is a ton of data out there clearly saying Realtors get more, and honestly it shouldn't be a surprise because we simply have more resources, more experience with those resources, more connections, huge network day 1 and on and on.

How important is it to get with CPA to assist with tax benefits.

The most common pitfalls include underestimating the workload, difficulty finding reliable tenants, and managing legal requirements.Additionally, DIY property managers may not have access to the same resources and networks as professional property management companies.

A few general tips - look for markets with strong economic growth - job growth, population growth, network with other investors in your area and check which states they are investing in, for out-of-state investing - work with someone who has your best interests at heart and is also an investor who can easily plug you in with their network (GCs, lenders, PMs).

I am not a CPA, I am an investor myself and mortgage broker that focuses on helping with investor on expanding their portfolio in real estate.

Exclusions.Certain work, such as time spent as an investor reviewing financial statements or participating in management decisions without active involvement, may not count towards the 750-hour requirement.As always, talk to your CPA to make sure that you meet the criteria above.If you do, there are many helpful benefits to you.

Would love to connect and network.  

BP is a great place to network and build out your team.

That said, I lived in Detroit from 2017-2022, which means I was able to build an on-the-ground network before moving away.