A lot of CPAs are "jack of all trades" generalists.While the topic of this thread isn't complex, a CPA not experienced with partnership tax law may struggle.Deducting on the 1065, as your CPA suggested, is not correct (nor it is a choice).Either (a) establish an accountable plan and have the partnership timely reimburse you (and take the deduction on the 1065) OR (b) get an appropriate expense reimbursement amendment in the operating agreement (signed by all applicable members) and begin taking mileage as UPE on your 1040.

More Las Vegas Numbers on Supply.2/29 MLS Inventory: SFR 4240 properties, Condo/Townhouse 1216 properties.3/26 MLS Inventory: SFR 5757 properties, Condo/Townhouse 1566 properties.Buyers can have more choices compare to one month ago.  

If it wasn't for lawyers, you wouldn't need attorneys.I've asked many times, what subject in school and what book(s) new REI should cover/read that would be the most beneficial to them. 

If you built the garages, installed the pool, etc without permits and inspections, you'll have many more problems with getting those passed by your township than you may think.The solution I would recommend is to have your parents refi, put the property into a trust, you can be a co-beneficiary, and when you can afford, give them whatever money you have agreed to and have them quit claim their beneficial interest in the trust to you.I am a realtor, not an attorney, so please seek out a qualified attorney to get you set up. 

I am under a "housing choice voucher" system with single family rentals. 

In theory I would stick to my X60 multiple (of both sides) and if I chose to forego rent on one side in order to live in it then that is my choice.

Definitely make the records requests to the towns/cities you are interested in (you can find the info for public records requests very easily on most town/city websites), but would also highly suggest thinking about other types of motivated buyer lists you can obtain - tax lists tend to be the go to for investors (and by all means still utilize them), which means the people on them are often getting targeted by multiple investors which can be overwhelming for them and less beneficial for you.

I mean, I want the property to be convenient to my renters...but it doesn't have to fit my commute time.Buying a primary home that does NOT need work will open up so many other choices for me that will fit my personal needs.  

This is my first investment property and just want to make a wise choice, what do you think?

And many Lenders have no choice but to slow their intake of transactions by throttling mortgage rates higher and by reducing the term that they are willing to guarantee a rate lock.