You also mentioned an unpaid water bill, so be sure to deduct any outstanding balance from that bill as well. 

For someone that is purely a passive investor looking to make as much money as possible, I agree that real estate is not the best place right now.  

We fixed the foundation and the flat roof issues with pooling water, and rents didn't meet the mortgage just yet.In 2023, we finally started to cash flow.

This helps keep me out of hot water with fairhousing. 

I learned the hard way how to shut off water and how to winterize.

@Katie Miller, I purely entertain referrals from other people who have had great experiences with niche CPAs. 

The expansion of ADUs hence serves a dual purpose, simultaneously addressing housing affordability concerns and nurturing the urban economic vitality.As far as sewer and water, they would be pulled off the main in the back of the property.

I learned the hard way how to shut off water and how to winterize.

It had 22 of the 25 lots occupied but we'll be fixing it up, filling it up, billing back water and raising rent up to market.

Echoing some of the comments from others on this thread and adding that the LLC is purely for asset protection and limiting your personal liability.