.: I think you meant to type was… Thanks @Jeff S.for your free professional advice.

Readers should seek professional advice.

Folks who think taxes are Plug N Play, or Monkey See/Monkey Do are a bit delusional that five minutes of googling replaces a competent tax professional who actually knows and understands all areas of the 1065 and related schedules.True.There are a few questions one must muddle through.

Here is an example of what it costs you to avoid professional advice.

I’ve developed a Comprehensive Investor Report (CIR) for a property in Palm Coast, FL, designed to be transformed into a luxury rental asset while serving as the foundation for a scalable asset management strategy.Here’s a quick snapshot of the deal:Property: Red Birch Lane, Palm Coast, FLCurrent Value: $350,000+Mortgage Balance: $165,000Current Equity: $185,000Investment Required: $177,500 (for luxury upgrades and optimization)Projected Monthly Rent: $4,500 with 2% annual increasesTarget ROI: Full 1.5x ROI for investors achieved in 9 yearsLuxury Features: Smart home automation, designer finishes, professional-grade kitchen appliances, and more.I’ve also structured a capital distribution plan with a waterfall approach:8% Preferred Return for investors.Full Return of Capital to investors before profit splits.Post-ROI, a 20/80 split (Investor/Management) ensures long-term alignment.

You can be sure they will continue to negotiate for, strategize and advise themselves.If the laws are similar where you are, you should consider if you want someone doing those things for you, and whether you are comfortable going toe-to-toe alone with a licensed professional on a $1.25 million purchase.

The thread addresses a different topic, the Real Estate Professional status, but the same principle applies to the hours in both contexts.

We have a wide range of investors and RE professionals join us.

Key Market Movers and How to Track Rateshttps://www.biggerpockets.com/blog/2024-dscr-loan-rates-and-...How Do DSCR Lenders Calculate Your Interest Rate?

These are professionals with additional training and a stricter code of ethics.