. - Clearly define the terms of the partnership to avoid misunderstandings. - For Both Parties: - Use legal agreements to outline roles, responsibilities, and profit-sharing. - Communicate openly and regularly to build trust.

According to our understanding:1) California does not recognize REP status, but we could claim it on our federal taxes, is this correct ?

Are there issues that you think you should avoid regardless of potential for discount? 

Salaries, compensation, rent, taxes, utilities, fees, MLS, etc.The flat fee model is a recipe for disaster."

However, this means you’ll need to comply with the annual filing, franchise tax, and reporting requirements in both states.

What paperwork should I keep a paper trail of to make things like taxes and other situations better/easier for myself?

Intangible assets like goodwill or tangible personal property (e.g., equipment) are excluded from 1031 treatment and are taxed separately—goodwill is typically taxed as a capital gain, while equipment may be subject to depreciation recapture taxed as ordinary income.To minimize taxes on the sale of the business, consider strategies such as Opportunity Zone investments, which defer gains until 2026 if proceeds are reinvested in a Qualified Opportunity Fund (QOF), or structuring the sale as an installment agreement to spread taxable income over multiple years.

•Business Cards & Branding: You can list both services, but if you want to avoid overwhelming potential clients, consider having two versions—one focused on PM and one on real estate sales, depending on who you’re targeting.Best Way to Generate Property Management Leads1.Target Landlords Where They Need You Most•Most landlords seek out PM services when they’re in trouble—tenants not paying, evictions, property damage, etc.

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.

Hi Steve, where did you get your property tax estimate from?