I’ve built strong relationships with local agents and other investors in the Hamptons, which helped me discover this off-market property.

Reporting begins when it's placed in service, not when it’s first rented.This post does not create a CPA-Client relationship.

It can help build some incredible relationships and really learn some great tips from the pros!

Combine these benefits with GI Bill-funded real estate education to expand your knowledge.This post does not create a CPA-Client relationship.

For forming an LLC in Wyoming, consider these registered agents:Northwest Registered Agent – Excellent service and pricing.IncFile – Competitive pricing and solid customer support.Wyoming Registered Agent – Specializes in Wyoming LLCs.Compare their pricing and reviews to find the best fit for you.

Many judges would feel you got paid even if no cash was sent to you.I could see this potentially working on a higher-end property that it in excellent condition with a Grade A tenant.  

And here is why:Real estate is all about relationships. 

Quote from @Devin James: In one of our development projects, the City staff asked us to remove 40 units from our concept plan.This wasn’t requested by the City Commission at a formal hearing, it was the opinion of the staff.Our original concept already proposed fewer units than the current zoning would have allowed.Here’s what erasing 40 units means:- 40 fewer homes for buyers- Over $1M in lost profit for our team- Fewer tax dollars and impact fees that could’ve benefited the City’s infrastructure & servicesWe gotta get betterEveryone wants more affordable housing, but not everyone wants to do what it takes to achieve it we never listen to the recommending bodies. we move for city approvals and work closely. the other thing we do is keep going back to the same groups over and over and over and over every month on the same agenda and make very small reductions like 2% or 4% and that reduces and beats them down eventually they accept what you want. it's just before beating a dead horse. we keep tabling until they give us something we all agree on then we go to vote. in our city in columbus we have to get recommendations but that's our strategy. we used to come out as aggressive as possible. we typically study developments in the area and keep it very similar in terms of density. we have a track record of very controversial projects and litigation and not taking no as an answer. after a year of that haha I can tell you it's not worth it. now we are more relationship based and buying the right kinds of plots of land. if the numbers don't work on the front end don't do the development. 

In general, Cleveland is an excellent market to purchase rentals. 

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.