Taxes are everyone's biggest expense of their lives, and if we can change people's situations by finding ways to get them savings, it can truly change lives.  

Can I expense the roof or do I need to depreciate it?

I believe everything my CPA did matches what you described above (loan write offs, depreciation, biz expenses, etc.).  

I keep a reserve of about 5-6 months of expenses for each rental property I own.

SFRs in the Bay area are crazy expensive, the down payment and mortgage payment would be a huge gap to fill.2.

We agree we have 50/50 liability for expenses in the case of a loss.We differ in terms of cash flow breakdown.

PetrHey Petr, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

Most Jumbo lenders use IRS returns net number so be careful filing your 2023 tax return in not making the expenses total greater than 25% of income which will generally be the hit on gross rents. 

No income this year, but did have expenses, so I want to capture the loss and carry it to 2021. 

Hey @Lynn Wong, so if it is going to be a couple of weeks, it isn't worth the expense or trouble to try and STR it.It is empty.