I’ve been working with real estate financials for a while, and I keep seeing one mistake that costs investors thousands: poor bookkeeping leading to missed tax deductions.🚨 Common issues I see:❌ Not properly tracking repairs vs. capital improvements❌ Missing out on cost segregation & depreciation write-offs❌ Scrambling at tax time instead of planning proactivelyI’d love to hear from the group—what’s been your biggest tax headache as an investor?

Though many investors bend the rules and possibly don't get caught, you have the financial situation to do it correctly.

My ultimate goal is to build a portfolio of cash-flowing properties to achieve financial freedom.I’m currently seeking mentors who can guide me through this journey and help me avoid common pitfalls.

Stay disciplined, focus on cash flow, and you could achieve financial freedom in 5-7 years.Good luck!

I had the lightswitch moment after investing in NC for a while and I would get ok cash flow, but the properties I owned all doubled in value in about 5-6 years and I realized I could appreciate my way to financial success much faster than I could cash flow my way there. 

It’s crucial to ensure that you’re compliant with local zoning laws and HOA regulations related to vacation rentals, as these can affect your ability to rent the property.Overall, while it can work well, especially if you're looking for income from rentals, make sure to have a clear understanding of the financing rules, potential restrictions, and the financial risks involved.

If you don’t have a certain amount of funds set aside for these situations as well as your portion of closing costs and some extra reserves for once you close then you’re likely not financially ready to be buying things.

Leverage the CPA path: Your auditing and financial background will give you an edge when scaling.

:/None of that will matter in court but what do you mean by ‘enforcing’? 

I'm trying to pinpoint my financial strategy in attaining these projects and HMLs are always suggested to me.My goal this year is to buy my first investment.