Clear financial separation ensures all rental expenses are deductible, maintains legal protections, and simplifies tax compliance.This post does not create a CPA-Client relationship.

My partner's client is spending just under 200k for an ADU and will be renting it for 1800/m.

I have not yet but I am planning to look into it for a client in the near future.

Section 179 deductions may apply to assets directly supporting your business, excluding personal-use components.This post does not create a CPA-Client relationship.

., commissions, fees) and consider a 1031 exchange to defer gains by reinvesting in another property.This post does not create a CPA-Client relationship.

For me, it wasn't a book that got me into this but it was a conversation I had with a client while I was a financial advisor working for Merrill Lynch.

That is actually still challenging enough, as many clients have told us - in hindsight they were glad we talked them out of a full-blown rehab.

Finally, double-check local demand and rent trends in the area to ensure the pro forma income is achievable.I’ve worked on several mobile home park deals as a broker and am currently helping a few clients sell their parks, so I know how important it is to ensure the numbers make sense both now and in the long term.

For added liability protection, consider setting up an LLC for the rental, though this may have limited impact if the mortgage is in your name.This post does not create a CPA-Client relationship.

I can absolutely assist…I am a Full Time Realtor and RE Investor here in Ventura County.I help the full range of clients buyer, seller, renters, investors etc.