Hi everyoneIdk how to feel about this.In 2021, I purchased a property that used to be a duplex.

I use QBO to keep track of my properties and do this for my bookkeeping clients also.

It will NOT be an A/B class property. 

Here's how a seeming tax disaster turned into a strategic triumph.Picture this: You're sitting with your CPA, reviewing the sale of your residential rental property.

Meaning they buy the property at once. 

With enough knowledge you can make a educated decision on which approach you take.My experience:I personally don't sign up for any program who take you aside during events and try to sell packages that is just blatant sales strategy.Once you sign up there is every attempt to make you sign for their programs for bookkeeping, registered agent, LLC or corp setup fee which have ridiculous even with platinum membership.Basic standard structure they suggest to take advantage of multiple deductions can be easily achieved by proper education or work with a good firm like https://wcginc.com  who is local to you.A umbrella C-crop to manage all other LLC properties and take advantage of many tax deductions that are not available with a llc, its also used to take losses up to 100K as startup expenses and dissolve the entity after few years.Few LLC entities for investing in Real Estate, etc preferably in Wyoming or Nevada ( you can find many companies online who can do this for $150 compared to anderson $1500-$3000) , they will claim they have a secret Operating agreement which is bogus.They certainly try to take advantage of tax loopholes and claim to be smart people, my view they are just taking advantage of numbers as per their own statements.

While I’m new to being a real estate agent, I’m not new to investment properties.

This isn't to say you can't flip properties part-time, but it will come with challenges.

5 tips i should keep in my mind when buying  rental property? 

Found T&H realty services to be pretty interesting as they provide both buyer brokerage service (to help me find deals) as well as do property management i.e. they are not full turnkey provider necessarily, but reduces some of the hassle for me I guess as an out of state investor.