@Greg StrunakA 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.

Quote from @Bear Geiger: At Little Bear CreekProperties, we specialize in developing large tracts of land into individuallots for home builders in the Raleigh, NC area.

Most of these gurus haven't really invested in years, or they pay someone else to do it while they specialize in being a social media influencer and motivational speaker, so I share that frustration.

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

A handyman special will cost about $400k.

You should have a good idea of every expense you have in your primary home, then add the STR specific:  (These are rough estimate numbers, depending on various factors)STR insurance - a special insurance that covers both the property and your liability, could be $2~4k in areas without natural disasters, could be more than $10k in some other areas.cleaning fee - approx. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal:  $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses. 

I specialize In helping investors like yourself locate, and secure investment properties and provide a hands off experience along the way.

I’ve seen many investor clients use 1031 exchanges effectively.. just be sure to get specialized tax advice.

What areas do you specialize in?

I’m Keagan, a realtor and investor based in Indianapolis, and I’ve worked with several clients on value-add multifamily deals and have done a couple myself.For finding off-market opportunities, I’d recommend:County Tax Delinquent Lists – Great for uncovering distressed properties.Direct Mail Campaigns – Target out-of-state owners.Local Networking Events – Connect with wholesalers who specialize in multifamily.I’d be happy to introduce you to lenders and share leads if Indy is on your radar.