Self-employment tax will be required on the net gain, which will of course be 0 after property expenses and depreciation.

Title company paid the taxes showing tax payment certificate cleared.

Also keep in mind that adding sqft will likely increase your taxes and local regulations might limit the use of the ADU. 

I had my tax guy open an LLC for me this spring, but don't know much about maintaining it.

Quote from @Adam Jones: Quote from @Patricia Cote: I bought the Tax Delinquent program.

An example would be buying a SFR house in a Class B area for 230-250K that is renting for 1600-1800 range, those are not home run numbers but with low property taxes these are still better deals than what you find in other places.All the best in your search!

Here's a list of tasks where ChatGPT can be particularly beneficial:Initial Client Interactions: Use ChatGPT as the first point of contact on websites to answer basic client queries and gather preliminary information.Property Information: Automate responses to common questions about property listings, such as square footage, amenities, and nearby attractions.Appointment Scheduling: ChatGPT can help schedule property viewings or meetings based on the broker's availability.Market Updates: ChatGPT can be programmed to provide recent market statistics, price trends, or news to clients on demand.FAQs: Handle frequently asked questions about the property buying/selling process, brokerage fees, or other standard real estate queries.Document Explanation: Brief explanations of common real estate documents, terms, and jargons, ensuring clients have preliminary understanding before detailed discussions.Lead Qualification: By asking potential clients a series of questions, ChatGPT can help in initial lead qualification, filtering out those who aren't serious or ready to move forward.Feedback Collection: After a property tour or meeting, ChatGPT can gather feedback, which helps in improving services or adjusting property prices.Recommendations: Based on client preferences, ChatGPT can suggest properties from the broker's listings.Follow-ups: Automated reminders or check-ins with potential clients to maintain engagement.Education: Offer brief tutorials or explanations about real estate concepts, market trends, or investment advice.Localization: Provide information about neighborhoods, schools, and local amenities to clients interested in specific areas.Transaction Updates: Keep clients informed about the status of their property transaction, from initial offer to closing.Referrals: Encourage satisfied clients to refer friends and family by sending automated referral requests or reminders.Networking: Introduce and maintain relationships with other brokers, agents, or relevant professionals in an automated yet personable manner.Maintenance Reminders: For brokers also involved in property management, ChatGPT can remind tenants of maintenance schedules or gather feedback post-maintenance.Reviews & Testimonials: Automate the process of collecting reviews and testimonials from satisfied clients for promotional use.Mortgage & Financing Info: Provide preliminary information on mortgage rates, lending institutions, or financing options available.Training: New agents in the brokerage can use ChatGPT for training purposes, asking questions about company policies, sales techniques, or market nuances.Market Analysis Reports: While detailed analysis might require specialized tools, ChatGPT can give general market outlooks based on data provided to it.By leveraging ChatGPT in these areas, brokers can increase efficiency, enhance client engagement, and free up time to focus on relationship-building and closing deals.

It’s in good shape and I could get it to cash flow by about 50 bucks per month - taking into consideration only mortgage, insurance, and property tax.

Feel free to give any feedback as I am super open.

The cost of all the vendors to process a loan: credit, audit, LOS, tax, Underwriting, processing, verifying every piece of paper is a range of $9000- $11000 per loan.