Here are the key numbers:Potential purchase price: Mid-$400k rangeAppraised value: Estimated at ~$500kRehabbed comparable properties (comps): ~$580-600kMonthly PITI (with 5% down, including mortgage insurance): ~$3400First-year PITI (with 2-1 buydown): ~$2900Monthly income (after taxes): ~4-5kLiving expenses (utilities, groceries, etc.): ~$1600Savings available: ~15-20% of the purchase priceCash to close: ~$34kRehab estimate: ~$34kRemaining reserves: ~$20-25kTo fully fund the rehab, I’d need to come up with an additional ~$15k in the short term, which I anticipate paying back quickly once the rental portion is generating income.

Additionally, high-income earners with modified adjusted gross income (MAGI) over $250,000 (married filing jointly) may be subject to the 3.8% Net Investment Income Tax (NIIT).For 2025, bonus depreciation is at 40%, so consider leveraging it for eligible property assets like appliances or fixtures to accelerate deductions.

A lot of lenders used to apply 35% for expenses, but in the last several years, the numbers for supplies, labor, utilities, taxes, etc… have increased significantly.Also take into account the age, occupancy and how has the property been maintained, this will affect the expenses too

For example, instead of tax returns and W2s they will check bank statements and the After Repair Value (ARV) to underwrite the loan.

.• Public Records & County Websites:Local county appraisal and tax records can be a goldmine for owner information.

From a tax perspective, you'll want to take what you paid for the property plus calculate the improvements you made to the property during your time of ownership.

I'd rather be slow but accurate rather than fast and inaccurate.”This is in violation of Ohio Statutory Law governing the management of residential real estate properties.

., I left Anderson for a small firm that will do the actual taxes and then another company that specializes in tax strategy. 

Too risky for us.Regarding additional guest packages, you can easily change your tax situation by offering what the IRS calls "significant services".

The California government will deal with the damage the same way all governments do , they will find a way to raise taxes or get the Feds to pay for it ( that will be difficult with the new administration ) Here is what I find ironic , California has C.A.R.B. to pass regulations on vehicle emissions .