Use umbrella insurance as an additional safeguard, especially if you opt not to form an LLC.Avoid S-Corp taxation for rentals, as rental income is passive and not subject to self-employment tax. S

Quote from @Zara Massoud: Your new PM is correct and the old ones were wrong.The property manager must have your social security or tax ID number on file.

I used to live in the city and the taxes and water bills are nightmares.

I 100% endorse adding in the escrows for taxes and insurance to set the buyer/borrower up for success. 

If you live there 2 years or more before selling you will be exempt from tax on the 1st $250k in profit which is a nice bonus. 

To defer all tax you must purchase in total at least as much as your net sale.

Moreover, local governments may offer new incentives to developers to keep interest alive during this pause, such as tax abatements or infrastructure investments.ConclusionWhile the BlueOval City delay has caused uncertainty, it hasn’t changed the long-term outlook for the region’s real estate.

So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.50% reduction in rent.Previous 50% made up from a mandatory nontaxable tip. 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

If 1031 is to be implemented it must be done on the property level.2. 1031 generally does not apply to IRAs since they are tax-exempt. 3.