It's relatively affordable, strong tech and industrial job growth, landlord friendly, low property taxes, and not state income tax. 

From there if I want the money back the rental company has to be willing to give me a refund directly or I have to take them to small claims court to get my money back.

Hi Bigger Pockets Community,New member here...Im looking for some advice on whether I should be classified as a REPS or not for 2023 Tax year as my CPA isnt much help on determining if I should make this designation.

Scenario 1: Condo conversionI'll skip all the renovation details and get right to the point - reasonable net profit from this project would get me around $863,000 which, after LTCG tax would be around $733,550. 

In CA there is a tax deduction.

Get a refund?

Landlord friendly, some of the lowest property taxes in the nation and positive job and population growth.

Not sure the size etc, Also make sure to stipulate a timeframe as solar would take years to negotiate - do not be shocked if the seller wants a non refundable depositThis is very common in these types of transactions.

However, two oversights have affected my calculations: (Both dumb mistakes I can only blame myself for)Higher-than-expected property taxes and municipal fees in University Heights compared to Cleveland proper.Overly optimistic rental income estimates.After adjusting for these factors, including property management costs and other expenses, the revised cash-on-cash return is about $12,000 annually, slightly over 5%.

I had no tax liability in 2022 and now here in 2023 I do.