Now, this would obviously be negatively cash flowing since you would need to pay taxes and insurance.

(As AZ and your current state will fight over who gets to tax your gains with the federal government.)I have to throw most of the shade on your horrible tax guy/cpa who didn’t tell you renting it out was a $50-$100k mistake. 

There are less taxes in Alberta too.

They won't be able to fix that problem as there is probably a small leak in a pipe or a crack in the foundation or a bit of water coming in from somewhere or moisture building up in the home.I also agree with Nathan about taking the first contractor to small claims court.

That said, we have not made a claim up until the fire. 2.

Attractive Tax Environment for InvestorsGermany offers favorable tax policies for property investors.

Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

How is it a tax strategy though?

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

I'm looking for referrals for a custodian, tax attorney, and a CPA to set one up and advise me.