Low income neighborhood; save on taxes How did you find this deal and how did you negotiate it?

If he get's 500k cash, he's paying 50k in taxes at close.

https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

@Brody VeilleuxYes you can absolutely still get tax benefits!

Hello @Michael Dallas,To verify the seller’s information, ensure you request these essential documents:Rent Roll (to confirm rental income and occupancy)Lease Agreements (to review tenant terms)Financial Statements (past 1-2 years, including income and expenses)Property Tax StatementsUtility Bills (if applicable)Maintenance Records and recent CAPEX reportsInsurance Policy DetailsInspection Reports (any recent or previous reports)These will help you confirm the property’s income, expenses, and condition.

Focusing on growing capital, reinvesting profits, diversifying investments, and using tax strategies is crucial.

But for straightforward setups, you can actually form an LLC directly on the PA Department of State website yourself, and it’s very cost-effective.For larger portfolios or more complex structures, some investors prefer going through a real estate attorney to ensure their LLC is set up to maximize tax benefits and liability protection.

I have come so far (daily personal Finance sheet, opened a small business, bough a home, and utilized as many tax strategies as best I can), yet I still feel so far from my freedom.

Consider investing in landlord-friendly states with lower property taxes and regulations.Good luck!

This has become a recurring issue.I'm also unable to enter the property with notice because she claims there are minors in the home.