Investment Info:Large multi-family (5+ units) buy & hold investment in Bryan.

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

So, make sure YOU understand the copy & paste info below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Selling and buying something else you want keep and doing a cost seg in would help with the tax burden probably better in this situation.

Investment Info:Small multi-family (2-4 units) buy & hold investment in Piffard.

The 5-10 it gets heavier and a lot busier, and 10-15-20 it really is untenable to self-manage especially if this is not you main business like a person buying their own rentals and building it like a small business. 

Just a thought or buy a bizzness that will do far better than rentals. 

I’m passionate about learning and improving my process to provide real value to investors, whether you’re focused on fix-and-flip, buy-and-hold, or any other strategy.Looking forward to your thoughts and insights!

I am currently an Asset Manager for Multifamily Deals as my W-2 job and looking to buying my first deal in College Station/Bryan Area.Anyone I can connect with to pick their brain on different investing strategies? 

Quote from @Roxanne Whitaker: Please be aware if you buy an investment property and do not live in MD, when you go to sell it you will pay an 8% tax at settlement.