What your CPA is saying aligns with what I understand to be true.However, you are just at the start of your journey. 

Ensure you have an emergency fund for vacancies or repairs and verify market trends to confirm the investment supports your long-term financial plan.This post does not create a CPA-Client relationship.

Since benefits typically accrue over years, the payoff may be limited if you sell within two years.This post does not create a CPA-Client relationship.

We actually have 2 unicorn tenants: key search phrase: "They are grateful" Jim Kennedy, CPA

I'm going to ask my CPA when it's tax time.

Alternatively, transferring the property to a revocable trust provides income for your parents, avoids probate, and keeps you as a beneficiary, but it doesn’t allow for a 1031 exchange and could trigger gift tax.Focus on aligning the structure with your goals, whether for immediate reinvestment or estate planning, and ensure compliance with Connecticut laws.This post does not create a CPA-Client relationship.

Mid-quarter convention: This applies if more than 40% of the basis is placed in service in the last quarter, limiting first-year depreciation.This post does not create a CPA-Client relationship.

This will lower interest costs and free up future cash flow for reinvestment or reserves.Tax Planning: Work with a CPA to mitigate tax impacts from principal-heavy payments and potential gains.

A balanced approach—leaving some 401(k) funds for diversification while allocating after-tax dollars to real estate—can optimize tax efficiency and meet retirement goals.This post does not create a CPA-Client relationship.

This post does not create an attorney-client or CPA-client relationship.