This market is also appreciating with people moving from the coastal states out here, there's a reason Phoenix always ranks in the top 5 best places to invest year over year. 

•If insurance costs are reasonable and the property is in a high-demand area, this could be a hidden opportunity because many investors automatically pass on flood-zone properties without digging deeper.

no reason to go out of state when you have the metros you mentioned close by. 

There is virtually no reason to keep “cash” on hand for repairs. 

Unless you are planning on doing all the work for the property yourself, I see no reason to invest in your backyard.Welcome and best of luck,  let me know if I can help more.

The reason I post this here is because I got totally different answers from two CPAsHere is the story:I bought the house as investment property and run it as STR for the last two years.

Target, actual 7.5% cap rate in a reasonable neighborhood.  

Furthermore, it sounded like they were mad at us for using their name on our pitch deck to the broker when we thought that was the main reason we are signing up with them, to leverage their experience and credibility as a sponsor.We were super disappointed, but to make things worse I heard later that Ryan Woolley was telling other students that we didn’t have our act together and it was a bad deal.

However, employer profit-sharing contributions (up to 25% of W-2 wages) are not subject to FICA taxes and do not appear on the W-2.To stay IRS-compliant, ensure your Form W-2 and Form 941 properly reflect deferrals, and maintain a reasonable salary to avoid red flags.

highlight_post=6803139&page=1#simplified-forums__discussion__replies-containerI have no reason to alert you of this danger other than honestly trying to help you avoid the trap that the rest of us fell into.FOR YOUR OWN SAKE, DO NOT BELIEVE ANYTHING MARCO OR NORADA TELLS YOU UNLESS YOU SEE IT IN WRITING AND HAVE IT VERIFIED BY YOUR LAWYER.