Assuming you are both working and the rentals are long-term, rental losses up to $25,000 can offset W-2 income if your MAGI is under $150,000, with excess losses carried forward.This post does not create a CPA-Client relationship.

A good PM, if you are truly annoying them with ticky tack crap, would simply terminate the relationship with YOU, if you were such a bad a client, not charge you $75 every time you call with a question.

I’ve built strong relationships with local agents and other investors in the Hamptons, which helped me discover this off-market property.

I haven't gotten serious yet and don't have a local agent, but I have been window shopping and may reach out.Hi @James Bing, yes I manage my own properties by leveraging technology & local relationships to automate the self managing process.

For long-term planning, consider transferring the property into a trust to manage tax and legal complexities.This post does not create a CPA-Client relationship.

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

How would you have preferred Sunrise to have developed at relationship with the residents?

If your AGI exceeds $150K, passive loss limitations apply unless you qualify for Real Estate Professional Status (REPS).This post does not create a CPA-Client relationship.

Ensure compliance with 45-day identification and 180-day closing rules.This post does not create a CPA-Client relationship.

However, Opportunity Zone investments require careful structuring to ensure compliance.Evaluate your priorities: If starting a business is the main goal, proceeds from your primary residence (with the capital gains exclusion) might provide the simplest funding option.This post does not create a CPA-Client relationship.