@Hannah Potter Here are the things that many CPAs support their clients with:Understanding tax impact of short-term vs. long-term vs. flip before you buyWhich entity structure is best for goals and investment property typeTax and compliance on LLC or S-CorpHow to transfer property out of personal name into LLC (hard to buy 1st through entity)Ways to optimize taxes throughout the yearHow best to set up accounting to track income and expenses (doing this late is a mess)Feedback on property management systems, accounting systems. systems, etcEstimated payments to avoid penaltiesKnowing when to file and getting things in on timeMaybe a few things I missed, but this is the high-level ….. if you can get answers to the above questions on your own, plan, and file your own taxes then you can avoid the expense of a CPA.

Hello All,I am looking to buy a rental property with my parent (full cash no loan) and we are trying to figure out how we should set up the agreement in order to get the least amount of taxes paid and most amount of profit made.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best!

We have our listing in Lakewood, CO set for 30-day minimum stay and do MTR bookings on Airbnb and Furnished Finder.

Spring, located to the north of Houston, provides a mix of suburban and rural settings, catering to a variety of rental markets.Cypress is a bustling area with great schools, planned neighborhoods, and amenities.

You can also expect that you will have a handful of paperwork to complete and receiving your 1st payment could take a month, as they have to enter you into the system and likely have set pay out dates.

Since I'm new to the game I was planning to set aside 30k to 20k of that money to use as cash reserves. 

And of course don't force him into it just to please you (I'm sure you're not)When you verify that he is truly serious about starting the journey, I would 1) have him do an extensive goal-setting plan.

I definitely suggest setting up some Keyword Alerts for the topics you feel knowledgeable, so you can jump into those conversation and offer advice!

Here are a few I recommend: "Rich Dad, Poor Dad" by Roberto Kiyosaki; "Set for Life" by Scott Trench; "The Unofficial Guide to Real Estate Investing" by Spencer; "The BiggerPockets Ultimate Beginners Guide" found here on BP; "The Book on Rental Property Investing" by Brandon Tuner.