So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

Don't put a high list price based on what you want, needs to be based on solds

And if you base an offer price on that, you'll likely have an extremely difficult time getting any traction. 

Or just wait until a year passes and he can rent it out  Following - I'm based in California in The Bay. 

You take that best guide as a base and put your own spin on it but make sure you don't copy proprietary content or do plagiarism.

The revenue was based from AirDNA and also finding comps.

Each CPA will answer the questions uniquely based on their interpretation of the tax law as well as your specific scenario, so I highly recommend having a trusted CPA answer this for you.

I am an aspiring serial house hacker based in southern New Hampshire actively searching for my second small multifamily deal in the Nashua area, but I've hit a wall with inventory being so tight in my local market.

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

I normally pick and choose the events I go to based on what will be discussed.