Rev Proc 2008-16 does create a safe harbor for your investment intent at 2 years of investment use coupled with  some other qualifiers.  

Quote from @Renee Everett: Newbie female investor looking to learn more about the BRRR method to create a successful portfolio with my husband. 

Check out FilePlace, where user-created forms are available for free.

It is also quite possible that the Buildium system does not support multiple accounts payable or that they would have to create additional accounts payable for you.

Insurance was really created for catastrophic events (fire, flood, etc) not for small claims.

Failure to meet material participation rules will limit rental losses to offsetting passive income or carrying forward.This post does not create a CPA-Client relationship.

 Hey GUYSOver the years, I’ve worked on creating high-converting funnels for marketing agencies, and one thing I’ve noticed is that the core principles of attracting, nurturing, and converting leads are just as relevant for real estate investors.I’ve been diving into strategies that could help investors streamline their deal flow, attract motivated sellers, and build better relationships with private lenders.

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

The goal is to set up and or buy smaller portfolios, or sell the entire brand which we have created.

If you're interested in seeing how that all breaks down from an income and expense standpoint, I created this Sankey diagram to share with you:As for me, I'm planning to leave my w-2 job and take a little career break before deciding what's next for me.