The STR model is a different model and where it is at in it's business cycle, the average STR owner is not doing well.

It’s a business account and I just checked, paying 3.95%, more than my personal one!

Use this partnership as I way to learn how to crawl in the house flipping business.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

I am trying to find a mentor and I feel like working for a corporate wholesaler might give me the experience I need to turn my little $175,000 chunk into a rental property business one day.

That's why I would never had a business partner.

I also ran my own roofing business one summer of college.

Seems odd as this would be a business expense for my business.  

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.

Hi All, Not sure I'm posting in the right place but it says this is the Rental Property Management Forum, but it's about the business end.I'm looking for some guidance from other PMs who have created a profit sharing bonus program with their staff.