Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Will income tax be very high?

We're looking to renovate something before the end of the year to accomplish 2 things: 1) Improve home value so we can get appraisal, refinance and leverage that to buy a new property. 2) Take advantage of the tax credits that are out there in 2024 before the new year or is it better to wait until 2025 and just hold onto the cash I have at hand.Here is a list of renovations that will need to be done eventually:*Brand new basement kitchen (cabinets + add seating area - we already have brand new dishwasher, fridge, gas oven)*New standing shower in the basement bathroom*New Siding*AC/Furnace for unit 1 are close to end of life but still functioning*New Fence/landscaping*New Windows for the basement*New Garage (unstable, concrete shifting, very old)*Solar Panels on the roof (There is a $0 down payment lease option w/ sunrun, but I'm hesitant to move forward)*Renovate master bedroom closet for tenants (it is old & has built in entertainment center that is very dated)*Repair Catch basin*Adding better drainage system for back door.Greatly appreciate any help, insight or advice!

Wells Fargo initially quoted $1M value at for the house so they said $5.5K for the county tax (.05%) and $13.1K  (1.28%) but a total of $18.6 in taxes but that seems really high

On tax benefits, last year we had a tax loss on our MTR business that lowered our personal taxes by an amount equal to 20.8% of our MTR gross rental income.

The taxing on marijuana should help us continue to hit the thresholds needed to keep dropping the income tax to zero.

That's the key component that is usually missing when I hear other entrepreneurs/investors say they don't like QBO.Something else to keep in mind is your entity structure and how your entities file tax returns.

Lets say I close on a house in April 30 and am charged the local taxes on the closing statement from Jan to April.

What you can also do is take a look at any high interest credit cards that you can consolidate to maximize the monthly savings and reduce monthly total debt.Cash out refinance is tax free and cannot be touched or taken back but a Heloc can be reduced or closed if you miss a payment, credit score drops, or your DTI increases.

Your big advantage in the early years is tax depreciation and mortgage pay down.