A partner and I, both of who work a full time job, are looking to get into real estate investing.

It's great that you're focusing on ensuring full transparency with your property management company.

With one long-term rental and a full time job, advance tax planning opportunities are going to be limited.

The home office deduction cannot increase your passive losses:You can only deduct home office expenses up to your net rental incomeIf your rentals are already showing a loss, the home office deduction won't helpExcess deductions carry forward to future yearsMust apply §280A limitations first, then passive loss rulesExample: 🔢Rental Income: $24,000Regular Rental Expenses: -$20,000Net Before Home Office: $4,000Home Office Expenses: $3,000 [using allocations, not the Simplified Method]Result: Can deduct full home officeCounter Example: 🔢Rental Income: $24,000Regular Rental Expenses: -$26,000Net Before Home Office: -$2,000 (Loss)Home Office Expenses: $3,000Result: No home office deduction this year (carries forward)Reality Check: 🤔Let's be honest - while technically you need to:Calculate net rental incomeApply §280A limitations [Consult your CPA on this!]

This is their full time job and they collect a fee but are still able to pass along strong deals to end buyers.

Its the nature of the industry full stop.Every TK broker from RTR to Norada to Hartman to Maverick to Real WEalth etc etc has had poor experiences with providers and PM companies..

Does anyone have recommendations for a contractor for an almost full gut property in Rochester NY?

www.propjump.com is the full url

People are spending 400k for an ADU but Boxabl offers a studio, with appliances, full kitchen and full bath for 60k.

The game plan would be to keep this structure for 1-2 years with future full sale.