After residing in FL for two months, we are excited to be under contract.Now, we are seeking advice on the next steps:Should we engage a CPA or lawyer for setting up our LLC?

You should have a gut feeling after looking at this and can strategize as necessary. 

it's the first suggestion ever from our major newspaper after being solely on the council side for 30 years.

Shortly after acquiring this 7-unit property, I ran into one of the tenant's who asked if I could replace her showerhead.

Also, ensure whoever you utilize does not have a pre payment penalty or its low so you have the ability to refinance after a year of stabalizing the property.

Case Study: Cost Segregation Study on a 6-Unit Apartment Building Overview: A 6-unit apartment building placed in service in July 2021 underwent a cost segregation study, significantly enhancing the property owner’s tax benefits.

I have a handyman who has a strong relationship with the tenants and for anything major I can call on my property manager for ad hoc services à la cart. 

Once the foreclosure process has started, you can only get the train back on the tracks if you can pay off their loan and liens, which someone probably would have done earlier on a short sale if the upset value wasn't too high.

Purchase price: $10,000 Sale price: $25,000 Contributors: Peter Vekselman We purchased a property on McDonald Street, Bluefield, VA, on 7/1/2024 for $10,000.

I agree except some clients I already have at limited service will not cash flow at full service or need material participation.