I recommend you really study your market to determine the appropriate rent rate, then market yours 5-10% below the competition for a six-month lease.

Allow a pets and I think you will have a great spot.Would adding that extra space/ spending that money be reflected in an appropriate increase in the property value too?

Managing risk is the least talked about item on these forums.Play it appropriately.

There's plenty of regulation surrounding the STR industry, but it's perfectly legal and welcome here.

If you’re close to $150,000 in AGI, a few ways you can bring that down AGI is by maxing out a 401k traditional ($23k for 2024 tax year), maxing out your HSA ($4,150 for 2024 tax year), and if you have any capital losses from stocks (up to $3k per year), I would encourage you to have great bookkeeping to ensure you’re capturing all of your deductions appropriately on your rental property.

Definitely go the legal route here, don't rent out the basement unless you have the OK from the relevant authorities--it's regulated for a reason (fire safety, carbon monoxide poisoning, etc.) and your insurance will not have your back if something goes wrong.

If I were to apply for a CFO role now, more than likely I have to advantage over a CFO that was in a manufacturing company for a real estate company.EAs specializes specifically in taxationCPAs have a broader knowledge for accounting, auditing, financial planning, and taxation.EA must pass a 3-part IRS exam and do not require a college degreeCPA need a degree in accounting, 150 credit hours of education, must a 4-part CPA exam.EAs often charge a lower feesI might lean more toward hiring an EA and ask how they stay updated on tax laws and regulations since I don’t really need full accounting services.

Quote from @David Pennington: I followed @Jay Hinrichs advice and checked with the county and they have no zoning regulations about drilling.

Here are some key criteria for evaluating a Cost Segregation provider:- Seek out a Certified Cost Segregation Professional- Consider their experience with tangible property regulations.

I want to go for the lowest but I also want to make sure that I am appropriately protected.