A good real estate accountant can save them thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend that they find a tax accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend that they look for a accountant willing to work with them throughout the year, who can help them strategize and who is responsive when they want to know the consequences of the financial decisions they are making throughout the year.Good luck.

You’re building a thoughtful plan that’s set up for success.

Quote from @Ven Bud: After hearing to lot of bp episodes on negative cash flow, I have a question.I am currently living in my primary residence and planning to purchase an investment property, and obviously it is going to be a negative cashflow (bay area), but I am of the opinion that as long as the rent on the investment property is atleast going to be greater than my current primary residence mortgage it can still considered as positive cash flow investment.The investment property is going to be in a much better location (for office commute, bay area proximity) than my primary residence.

I plan to put a $600 utility cap in the lease.

I pay about $2500 a year for each of my partnership returns with my CPA regardless of whether it’s a $1M deal or a $5M deal.I would save the partnership conversation for if and when you are doing much bigger deals.

Will you use the HELOC as a short-term bridge, or plan to hold it longer?

So they price those homes at what a willing homeowner will pay for their personal residence.

I would rather invest in safe markets that produce a good return, then I can use that income to pay for a vacation anywhere in the world.I'm very pessimistic about the STR market in Hawaii.

If it has any basis at all (such as you left the apartment during your lease term for what you felt was a justifiable reason and stopped paying rent, but the landlord disagreed) then you may be better off paying a rather small settlement.  

On a 320k property Ill be paying 9k annually.