The entire teachings had gone from Nickersons conservative but a cash flowing small residential property, hopefully for 10 -15% below market, do immediate repairs, then slowly over time improve the property and raise rents, either refi cash out or trade tax free for a larger property.

Research the sponsor's track record, past performance, and the market they’re investing in.Understand UBIT/UDFI – If the syndication uses leverage, your SDIRA might be subject to Unrelated Business Income Tax (UBIT) on the leveraged portion of the income.

@Lexi Blocksom If the burden of holding the property outweighs the long-term gains, a 1031 exchange allows you to defer all taxes, and you won’t have to recapture depreciation.This option enables you to use the deferred tax benefits to purchase nicer properties in areas with greater growth potential.Once you complete your exchange, you can immediately do a cash-out refinance if you need access to some cash, tax-free.

Financial wise there are a couple things to consider: -When considering the property taxes, ensure it is based on reassessed tax amount, not current tax rate.

But for the second one being able to visit will make things easier especially during contracting time. my first airbnb, I wasn't around and construction took a while which left me with the feeling that I should be monitoring and visiting the location more frequently. additionally, my main goal is covering my w2 taxes via the short term rental loophole.

Hey @Scott Chauncey, for the 2 SMLLCs, as long as they are disregarded to your personal tax return you can have them within the same QBO.

I'm a contractor based in Maryland and DC, so the renovation aspect is well within my expertise, having done numerous projects for other developers and general contractors.However, I'm facing a challenge when it comes to choosing the interior design elements, such as bathroom tiles, colors, sizes, fixtures, etc.

Our mortgage at the moment is around $2100 including taxes and insurance, this would obviously go up if we do refinance.

I didn’t really matter as it helped me save/defer $60k in taxes. 

Not only were tax shelters stripped of their tax deferral capabilities, but they were stripped of it RETROACTIVE, allowing the IRS to recalculate tax shelter investors income going back 7 years.