The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

Readers should seek professional advice.

From not having an attorney draft the docs, to trying to cheat the system with the deed in lieu to not professionally servicing the loan.

Most professionals will recommend a separate LLC for every $1 million in assets but I don't think that's necessary.

@Steffany Boldrini As a lesson to other people hiring interior decorators online, can you please tell everyone what caution flags should have told you not to hire this person?

3) If their handyman can't handle a repair issue and they have to hire outside contractors, many PMC's will then charge a markup for their time - but they don't tell you this upfront or disclose in their management contract.

But it can be frustrating if you're on a tight time limit and don't have the patience of Job.Many hosts feel like a simple site that looks professional and is robust, does just as well for half the cost.

There are lots of local REI professionals in the area I’m happy to connect you with.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?