These include reporting rental income, allocating expenses between personal and rental use, and navigating new limits on mortgage interest and property tax deductions under the Tax Cuts and Jobs Act of 2017.In places like Hawaii, STRs are subject to additional taxes, emphasizing the importance of understanding the local tax landscape.

Hey Joseph, I 100% understand what you're going through.My wife and I used a HELOC, 401(k) loans, and even an additional personal loan to acquire rental properties in Detroit from 2019-2021 ultimately acquiring 12-doors.We paid cash, renovated when necessary but some were also turnkey, and refinanced out on the backend.

Like you just said it looks good on paper and it seems the most ideal although I don't understand how it is difficult, could you maybe expand on that? 

., sole proprietorship, partnership, LLC).Ultimately, it's essential to work with a tax advisor or accountant who understands your specific situation, goals, and the nuances of rental property taxation.

Do you FULLY & COMPLETELY understand the contract - this is the key.

I understand that a lot will depend on the specifics.

 It's understandable to feel conflicted about whether to use a CRM, especially when you already have a PM in place.

I have had mine for over a decade but having someone that understands real estate deals specifically could be of interest as I begin to take the next steps.Thank you both.

It is also important to understand the standard of care that vendors owe you in indemnification clauses.

It's understandable that a bad experience with a rental property could sour you on real estate investing.