Real Estate Professional status is explicitly not recognized by California, among many other beneficial tax rules that exist on the Federal level.

My problem i is my market is super expensive if I stay in the nyc area and I don’t have the confidence since I don’t have any actual experience to invest out of state do you guys think paying off my mortgage would be more beneficial than looking for more rentals .

As a Lender, I've seen all sorts of crazy stuff with flippers and builders failing to properly document contractors, proof of payments and lien releases.

A few other comments;For Philly: It's best practice to include the required documents in the final lease packet and have the tenant sign or initial all to prove receipt.

Rent payments from the medical LLC are fully deductible as a business expense, while the property-owning LLC will report the rent as taxable income, which can be offset by deductions for expenses like mortgage interest, property taxes, maintenance, and depreciation.To ensure compliance, document how FMV was determined—using market comparisons, an appraisal, or similar data—and draft a formal lease agreement outlining the terms, rent amount, and responsibilities.

Last week, the seller's agent said the seller had no problem with the requests and would send back the signed document ASAP.

I assist investors in locating properties that fit their investment needs in DFW, TX and Birmingham, AL; so, this thread has been very beneficial!

I’ve been considering fix-and-flip projects, but I’m wondering if joining a mentorship would be beneficial at this stage.

The seller had until yesterday to sign the document.

I'm use to a move-in inspection documenting the condition of everything at time of move-in.