That may include all costs such as overhead, personnel time, office, taxes and so on.

I just finished their taxes with their CPA and I can say from first hand knowledge that real estate is the most effective way for immigrants to obtain the American dream.My parents immigrated to California in their 20's from Asia with no money, and could not speak English.

What would you recommend as the best strategy for accounting for this situation as we file taxes for the 2023 tax year.

Just remain wary of the potential consequences of operating in an anti-landlord jurisdiction: vacancy taxes, potential vacancy control, inability to remove deadbeat tenants, etc.Coincidentally, Jesse Vasquez posted "why your MTR isn't renting" on YouTube yesterday.  

It sounds like your tax professional would have grouped these actvlivities based on the situation you are describing.

Here's a summary of what you need to know:Population greater than 1M and growth rate: The source for metro population size and population change: WikipediaCrime.Operating costs: State income taxes are a good indicator of government efficiency.

Recommend consulting a tax advisor before moving forward with this.

For roughly $400 a year you can be a BP Pro member and it should be a tax write off as educational expense, but always ask your accountant, and use all the calculators infinite amounts of times.

If you own multiple properties, you can elect to group them together as a single activity for tax purposes, known as a "grouping election.”

If so, are they deducted from capital gains tax, or my normal income tax for the year in which I sell?