We created an open concept kitchen to open the space up, added a new rear porch, removing the enclosure and fully renovated the interior.

That usually creates a big supply of rentals on the market that it 's hard to be absorbed and create a race to the bottom in prices, as all the properties are pretty similar and in brand new condition. 

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

You will need to continue filing a MO tax return even in loss years.Given the complexity of passive losses and state tax credits, consulting a CPA can help optimize deductions and ensure long-term tax efficiency.This post does not create a CPA-Client relationship.

My point being, all things constant, I usually see an appreciation of about 1-3% in addition to the loan being paid down creating equity.

If this is your only rental, DIY could work for now, but a one-time CPA review is recommended to ensure accuracy and tax efficiency, especially if you plan to expand your portfolio.This post does not create a CPA-Client relationship.

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

Whether it’s connecting sellers with the right buyers or creating win-win opportunities, I thrive on taking action and delivering results.  

A Roth IRA Conversion lets you convert funds, pay taxes upfront, and withdraw contributions tax- and penalty-free after 5 years, offering a longer-term solution.This post does not create a CPA-Client relationship.

This California law eliminates much of the red tape by bypassing environmental reviews and subjective local approvals, creating a faster and more predictable development process.