This includes individuals who primarily have W-2 income from employment, basic investment income, and perhaps own a home or have standard deductions.Rental Property: If you have one or two rental properties and feel comfortable managing the related expenses and deductions, tax software can handle this level of complexity, especially if your transactions are straightforward and well-documented.Complex Scenarios: Hiring a CPAWhen to Consider: As your financial life becomes more complex—such as owning multiple rental properties, running a business, dealing with investment incomes, or having special tax considerations (like inheritance or foreign income)—the benefits of hiring a CPA increase.Cost Consideration: Hiring a CPA typically costs at least $1,000 to file your taxes, which can increase based on the complexity of your return.

I actually use 4 different attorneys based on their skill set and the project in front of me.My 2 cents.Mike

Generally there are three categories of multifamily investment properties – which will greatly determine your loan options.These three categories are based on the number of units at the property.2-4 Units: While these are “multifamily” properties in the sense that there are “multiple units” – you will generally have very similar options for financing to traditional residential loans on single family rentals – think the traditional 30-year fixed rate conventional option or DSCR Loans – and the coveted 20% down payment option too.

I connected with a realtor through Bigger Pockets and they helped me navigate the area based on what I was looking for.

They can vary based on whether you are in the city or the suburbs. 

Based on that estimator, with the current purchase price the property tax would be 3x of what is currently being paid. 

Unless my assessment of your situation is wrong based on what you've provided, you will be required to utilize Schedule E, and cannot classify this under Schedule C. 

Every state and country are different though which is why it’s important to talk directly to them to figure out their methodology and the anticipated taxes based on your purchase price. 

Negotiate terms with sellers based on your findings and financial analysis, and seek assistance from legal and financial experts to finalize the purchase agreement, financing, and closing process.Having a strong property management plan is crucial, whether you decide to oversee it yourself or enlist the help of a professional company.

Based on those numbers I would almost certainly sell.