Alternatively, your in-laws could partially gift the property by using the annual gift tax exclusion ($34K per couple annually), lowering the sale price and their taxable gain.

I am currently purchasing a home that will work great as a Rent By the Room. 8 bed and 6 baths in the DFW area.

Next Steps: Find lenders, network for private money, explore seller financing, and set up gap funding.

One of the most important steps you can take as either a startup landlord or seasoned one is to use a platform specific to property management as it will elevate your operation and save you tons of time.The good news is that nearly every software designed for landlords includes these features.

Do we have anyone that has personal experience with a 1031 strategy that is sponsored by an UPREIT?

It’s great that you’re taking the first step—that’s the most important part of the journey!

@Jacob HavlovickBigger Pockets is a great place to find a real estate tax accountant.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.

There are pot holes at every step form entitlement to permitting to the vertical and getting CO. 

Investment Info:

Single-family residence buy & hold investment in Oceanville.

Purchase price: $355,500

Cash invested: $75,000

Rental Property near community college

What made you interes...

We bought a property that we feel is assessed by the our local government too high.