![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/129885/small_1621418286-avatar-bbk.jpg?twic=v1/output=image&v=2)
7 February 2025 | 4 replies
I'd love to hear what other people are doing and recommend; tips and tricks for guarding a vacant property.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/127099/small_1621418121-avatar-palousejohn.jpg?twic=v1/output=image&v=2)
6 February 2025 | 10 replies
If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2903431/small_1703528016-avatar-cecils15.jpg?twic=v1/output=image&v=2)
8 February 2025 | 29 replies
Hey Cecil, if you have the capital to operate locally, and it fits your goals to do so, I highly recommend doing that.Congrats on securing your primary though.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2944298/small_1708772780-avatar-marlenah1.jpg?twic=v1/output=image&v=2)
29 January 2025 | 2 replies
., property management companies aren’t legally required to carry general liability insurance, but it’s highly recommended for protection against bodily injury or property damage claims.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2412916/small_1647532244-avatar-cated3.jpg?twic=v1/output=image&v=2)
28 January 2025 | 1 reply
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2925969/small_1705857624-avatar-gregs550.jpg?twic=v1/output=image&v=2)
30 December 2024 | 6 replies
@Greg StrunakA good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3171072/small_1737143081-avatar-lashone1.jpg?twic=v1/output=image&v=2)
7 February 2025 | 14 replies
Most professionals will recommend a separate LLC for every $1 million in assets, but I don't think that's necessary.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2880051/small_1737676228-avatar-johnf976.jpg?twic=v1/output=image&v=2)
29 January 2025 | 3 replies
I recommend beginning with a turnkey property.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2925226/small_1705779003-avatar-magdalenel.jpg?twic=v1/output=image&v=2)
6 February 2025 | 30 replies
I recommend getting a few quotes and choosing one that is right for your financing strategy. if you are trying to get fix and flip money there is a wide disparity in rates and charges.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/374380/small_1621447491-avatar-hectorh4.jpg?twic=v1/output=image&v=2)
29 January 2025 | 3 replies
Can you recommend a management software for managing 100+ doors I tried Cozy.