The holding costs for the time it takes to get permits and build especially if you are not doing this with cash (which almost nobody is) are enormous.

•Adjusting bookkeeping records to align with Generally Accepted Accounting Principles (GAAP)•Analyzing financial performance and advising on business decisions•Preparing and filing tax returns (if properly trained)Credentials:•Typically hold a degree in accounting or finance•Some may have certifications like Certified Management Accountant (CMA) or Enrolled Agent (EA)Caveats:While accountants can generate financial reports and file tax returns, they cannot represent clients before the IRS.

Quote from @Francisco Pila: Quote from @Heidi Xu: Investment Info:Small multi-family (2-4 units) buy & hold investment.

Phoenix contains a rare combination of elements that have created an outstanding market for distressed property investments, including the following:Cost Savings: Distressed properties are sold below their market value and enable investors to take hold of properties at a trifle compared to traditionally listed properties.Strong Market Fundamentals: Being among the fastest-growing cities in the country, Phoenix ensures a high demand in housing and rentals, hence good potential for resale or income from rentals.Value Creation Opportunities: Most distressed properties need renovations; thus, such situations present opportunities for investors to increase equity by adding value.Population and Economic Growth: Phoenix remains among those cities in the country which are attracting more and more residents and business; therefore, this presents good, long-term appreciation possibilities of property appreciation and income creation.Challenges to ConsiderWhile the rewards can be great, distressed property investment is not without its challenges.

Its no different than a tiktok video on financial literacy gets not views but if its a person shaking their you know what or talking about spitting on something they become instantly famous...

Also, the refinance of the property into a long-term DSCR loan to hold the property for rentals after your rehab is complete.

No, you cannot create phantom losses this way.Some additional issues that we have not addressed:- holding rentals inside an S-corp has many tax disadvantages- you will likely jeopardize your $250k/$500k capital gain exclusion for homesteads- you will lose asset protection afforded to personal residences by most states- you will lose your homestead exemption for local property tax - your insurance will have to change from owner-occupied to rental, i.e. go up- and there's moreConclusion: there're reasons why nobody is doing this clever "strategy" but A+ for trying.

These markets don’t experience extreme price swings, making them ideal for a buy-and-hold strategy with reliable cash flow and minimal volatility.On the other hand, Houston, DFW, and San Antonio are experiencing rapid growth due to continued job and population migration.

Everytime you get close to depreciation running out (or want more) you 1031, expand your holdings, and your tax write off. 

These all require applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Rental HistoryBecause a current landlord may say anything to get rid of a bad tenant out of desperation, we also require information for the previous landlord of all applicants…Analyze IncomeMany landlords require a month of paystubs from applicants and just use these to calculate a monthly qualifying income…Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment…AssetsWe are one of the few management companies that requires a bank statement as part of our application process…Letter Of ExplanationAny time there are credit issues or we discover an inconsistency, we require a written letter of explanation (LOX)…UnderwritingTraditionally, landlords have only looked at the income of applicants…ApprovalOnce an applicant is approved, we require a nonrefundable Holding Fee to make sure they are serious…