Self-Directed IRAs (SDIRA) or Solo 401(k)s allow tax-deferred or tax-free real estate investing, though they come with IRS restrictions.

However, once you decide to hire a true tax professional (and not one from AL), you will discover that your $1,500 tax preparation price without a partnership suddenly turned into a $3,500 price with the partnership.

You may be required to make estimated tax payments when the property sells.It depends on what your 2024 total taxes due were and 2025 estimated total taxes / withholding / estimated payments are.If you pay in atleast 90% of the current year tax or 100% / 110%(Depending on 2024 income), you are normally considered good.You may want to consult with an accountant for more clarification.

Every time you lower your tax bracket you are lowering the value of the deductions.

I have two questions regarding mortgage interest tax deductions.First, last year, I purchased a HUD property at a significant discount and used a $70,000 HELOC from my primary residence for the down payment.

Are there any tax advantages or disadvantages to my being both a resident and a landlord?  

Not looking forward to losses, just meant in the sense that I have a new STR and will expect to incur losses in year 1 and this is advantageous from a tax perspective in a sense.

You have to complete Schedule E if you have rentals.You should check if the turbo tax premier version allows the filing of Schedule E.With that said, using a software like Turbo Tax will assume you to understand what is deductible.If you work with a tax professional, you are more likely to have an accurate return.

2) Tax friendly states?

Quote from @Mike Hansen: When out of state investing, how does one go about appealing their tax assessment?