However, my area of CT has minimal options for multi-family homes.

Given the complexity and potential tax-saving opportunities in real estate, it's wise to consider hiring a CPA with expertise in this field.Many clients who work with non-specialists find that their non-real estate preparers lack the specific knowledge to help them minimize taxes through strategies like depreciation, the de minimis safe harbor, partial asset dispositions, 1031 exchanges, navigating real estate professional status, the short-term rental loophole, and more.If you are looking to qualify as a real estate professional, use the short-term rental strategy, or complete a 1031 exchange, I would without a doubt recommend working with a real estate CPA.

If you have minimal investing experience then you can use this book as a step by step guidline.

It doesn't just teach how to minimize your tax liability.

Besides, there're often ways to optimize your tax returns and minimize your taxes. 

If a property fails these benchmarks, it’s likely not worth the time to perform a deeper analysis.Risk Management: By adhering to these rules, I aim to minimize the risk of overpaying for properties or underestimating operational costs.

There are no monthly charges for well and septic, other than minimal electrical usage.

A house hack (purchase and live in 1 unit of a multifamily while renting the other unit[s] to cover the mortgage) is the easiest way to get started as you'll get used to the process and can use an FHA loan to have a minimal downpayment.

And it's so simple to apply for the EIN that it's worth that minimal effort to avoid the potential bank hassles.I found that US Bank is fine with the SLLCs but just depends on who you're speaking with.

For most property owners adding a single ADU to a single-family home (or even adding two ADUs to a duplex), the impact on financing options is minimal, and the benefits of additional rental income outweigh these concerns.10.