Excited to join the BP community and connect with other professionals!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

In the long run, I want to build a portfolio that will bring in cash flow.Would be great to connect with all types of professionals who work in the area.

Ask lots of questions and you will receive great insight from professionals!

Unfortunately, this is a controversial topic where there is no consensus between tax professionals.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My goals are to start building an investment portfolio of professionally managed (I could tell you all the reasons I will not do it myself) multi-family properties and, in time, develop a property in the Northwoods (Wisconsin/UP).

However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.

I've got a long term tenant lined up & the unit is a non smoking unit, which the applicant is aware & fine with for indoor.