But the property in question is zoned as a residential single family home... just curious on how all of that works together so that I don't end up violating any laws in the future while still being able to make a profit.- So questions I have:What is considered a "dwelling unit"?

I am starting to believe that I need to learn the tax laws myself since I have lost so much money paying unnecessary taxes because my previous CPA's are not familiar with all laws or they just plug numbers into a software (without strategizing) and then I get hit with huge tax bills that could have been legally avoided. 

Hey BP, I have a family member in my community who's planning on leaving their property in a few months due to work commute and affordability. The loan currently has a modification, and at this point they’re intereste...

SFH I believe will cool down a bit, the narrative of huge immigration and East Silicon Valley is kind of dying down.

You need to make sure that whatever laws are applicable in your state are included in your lease.

Richard,Your Condo Association by-laws and declaration will give you info on who owns what parts of the building and therefor who is responsible for the repairs.  

. - Look for properties with a large backyard and/or detached garage that would work well with an ADU and learn the ins and outs of the new CO laws that essentially have rezone most of the state to require approval for new ADU construction.- Underwrite the property to breakeven or small positive cash flow as a standalone long-term rental to a single tenant.

@Mia Gregory I cant speak specifically to Missouri law.

He is honest and knows Texas re law better than many tax attorney.

As of 2024, the bonus depreciation is 60% (subject to change pending the passing of laws) which allows you to immediately depreciate 60% of the asset’s cost.1031 ExchangeA 1031 exchange is a tax-savings strategy that allows investors to postpone paying capital gains taxes upon the sale of an investment property by reinvesting the proceeds through the purchase of another property (i.e. a like-kind exchange).