I use apartments.com, so the money didn't end up in my account until 1/6/25.Is this considered income for 2024 or 2025? 

DSCR qualifies borrowers with rental income rather than personal income, so you don't need tax returns.

Being a real estate professional allows you to treat the income as non-passive, allowing higher high income tax payers to pay less in taxes.

Get a roll away dumpster too- the amount of packaging waste the setup generates is staggering!

Estimated costs range from $500–$1,000 annually, depending on the complexity of their LLC and rental activity.For Partner 2 ($148K joint income, W-2, 1099 income, 1 rental, 2 kids), a CPA is strongly recommended.

Maybe not for my generation, or even a youngster like @Jay Hinrichs, but for the bitcoin investing/trading generation, it’s probably something they’ll have no problem going with.  

Meanwhile, gross rents of $1,800+ for 3-bedroom single-families is an achievable figure, so it’s possible to generate cash flow if you lever modestly.There’s a bunch of other stuff that’s worth highlighting—the economy, demographics, neighborhoods, new construction, and more.

I always advise to run a business for 3-6 months without an entity to see if it something you are making money in and something you want to continue doing.Once you have 3-6 months of activity, you have more information to provide to an accountant regarding income so he can provide suggestions on entity type.Best of luck

I think initially it makes sense to find properties that already have finished basements, in-law suites, etc. as converting those spaces to ADUs will be inexpensive and create a significant amount of rental income ($2,000/month+ in most areas close to the city).

inconsistent or less idea income sources?