Readers should seek professional advice.

Typically a few types of PMs out thereThe individual agent, little to no staffThe PM company that's a set it and forget it, glorified rent collectorThe PM company that's a true partnerI would on top of the suggestions abovesearch for a PM that owns their own portfolio tooThey treat your asset like they treat their own portfolio- There should be a full staff and readily available to answer the phone1.

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.

True off market deals take time and if you have time to burn then the driving for dollars and cold calling can find you a deal.

Hi there,I’m currently on an exciting journey to transition from a Data Analyst role to becoming a Mortgage Loan Officer (MLO) in Texas, and I’d love some guidance, insights, and potential opportunities from experienced professionals here!

@Scott VaethIf you live in part of the home and rent out rooms, you might be able to keep the lower 4% owner-occupied rate.Instead of a long-term rental that barely covers half the mortgage, could you do a rent-by-the-room model or target traveling professionals to increase cash flow?

The property owner's tax professional can help them with that and ensure they don't pay taxes twice on the same income.Disclaimer: My advice/opinion in this post is just that, my opinion.

Unless you qualify as a Real Estate Professional (which has strict requirements), your rental losses can only offset passive income.

And, because flips are already risky enough I don't want to add more risk.So, again, while the numbers are theoretically true, if you are doing that kind of volume, you are by nature becoming less selective. 

This is especially true for REI.