I'm brand new to the real estate game in 2023 and this is my first year filing taxes for my rental property. 

Stessa's accounting is great and their interface is user friendly, including their app! 

Pay close attention to learning about various investing tactics, including wholesaling, fix and flips, rental properties, and home hacking.

Your participation in the activity for the tax year constitutes substantially all of the participation in such activity of all individuals (including individuals who are not owners of interests in the activity) for such year.2.

Typically in a substantial loss, the lease is terminated automatically, the insurance covers your loss and the tenant is on their own for their losses including loss of housing. 

Outdoor space, including parking, living areas, and potential expansion, can enhance the property's appeal.Location should be considered, as properties closer to tourist attractions may command higher rental rates but may also come with higher purchase prices.

You're talking needing plans, architect drawings, engineering study, a zillion permits and inspections.I just don't see a lender lending on this kind of deal without that person having major experience that includes some ground up or extensive rehab work.If you wanna "break in" to the financing world, it is not impossible at all. 

They can leverage their network and expertise to find potential deals, including off-market properties.It's crucial to think about the downsides of gap funding and explore other ways to build savings.

How much are the average closing costs (including agent service fee, closing fee, premium etc.)?

That doesn't include land cost which could be anywhere from 60K to 120K.