Plus by going with you, they won't have the benefit of an agent's errors and omissions insurance, the support of their brokerage, and the experience an agent has in protecting their clients from everything that can go wrong in real estate transactions.

I've not yet invested in my first property, but I plan to purchase my first one by the end of 2023.

Also, check state-specific tax laws, as some states impose additional transfer taxes.This post does not create a CPA-Client relationship.

If a cost segregation study was performed, the accelerated depreciation may further reduce the property’s basis, potentially increasing taxable capital gains when sold.Depreciation recapture will occur when you sell the personal residence, so it’s essential to keep detailed records of all depreciation claimed while the property was used as a rental to ensure accurate tax reporting at that time.This post does not create a CPA-Client relationship.

I recognize that when my family visits I'm hurting my profitability, but that would be once or twice a year and its part of the selling point to my wife to purchase a property.Where I need help is running the numbers. 

@Kaleb JohnsonRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

With my strategy I have already surpassed a big companies net profit for my client since October.

@Matt McCurdy We have lots of clients that utilize this strategy.

As a Mexican realtor, I’ve worked with clients alongside an accountant to simplify the process, including setting up the necessary bank account for rental income.Let me know if you'd like more guidance! 

Also, I have sold a many flips for clients and myself.