This is for 3 properties I use spreadsheets, that I also provide to my clients if they don’t have a good accounting system. it can be a lot of work with making sure you have all the receipts, issuing 1099s, ensuring you have deductions, etc. as such, I recommend doing bookkeeping monthly. what’s funny is that as a tax preparer and advisor, the majority of the time isn’t spent entering numbers on a return.

It’s funny you make this post because literally just made one yesterday for the same thing.

Quote from @Bob Dole: Funny, my CPA called me yesterday to discuss the cost segregation and RE professional.His thoughts from our conversation:-Cost segregation makes sense to maximize deductions now. 

its funny how this changes with time and the market on BP  if you asked this question 5 to 7 years ago you get drowned out with the cash flow is the ONLY thing and appreciation is for gamblers my self I have always been about making appreciation games in RE.. by either value add building a new product or buying foreclosure and flipping or lending money and getting instant 12% plus returns . 

And hey, if you have any funny stories about your own deal-finding adventures, feel free to share!

That is not something I think is funny or boastful, really it is shamful that these events have taken place.

Also since you focused on my credibility… I think it is a bit funny someone who joined the real estate world not too long ago and only been in the entrepreneur world 3 years questions my credibility.

Funny how that works. 

Say you are new to this, make it funny, but you are looking to buy houses locally because you want to invest in your backyard.

I would find that funny too and laugh heartily!