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.

This gives them a hands-on role in the operational side of the deal, ensuring the property stays profitable and their interests are protected.Signing for a loan is a big responsibility, and sponsors need to feel assured that their investment is safe.

Tax techniques include depreciation, mortgage interest, costs, cost segregation, and tax-deferred growth.

I am planning to buy a house in Bronx, close to the city, I found a single family house 1 and 1/2 bathroom, 3 bedroom, finished basement, garage, and yard,The house looks in really good condition, I already made an offer for 570.000, in melrose Bronx, I know this is not a safe neighborhood, but I do believe the house will appreciate and also I think I could easily rent it since it’s close to the subway,What do you guys think, will a house in melrose Bronx will appreciate it, taking into account it is close to projects and it’s in melrose? 

I'm not experienced (yet) on the real estate side of tax accounting, but from a business perspective I can safely say that a good accountant that will give the best advice is not going to be the cheapest one.

We have MANY fail safes built into the operating agreement that would help prevent what you are going through.

In my head it’s a 1031 into a nice safe property with a hefty down payment.

Depending on the lender and the product if it is non-comforming you may not need to wait that time and you may not receive a LE or CD, but still most lenders will have it as a standard practice to be safe.

I'd also remind them of things to do to keep it cooler in the unit (open windows in the evening-if it is safe to do so, and early morning to let in cooler air and let how air out) and keep curtains or blinds closed to avoid sunlight coming into the unit (ie when sun is shining on that part of the building).

I'm looking for a safe place to park cash long term with great cash return, so I'll explore ADU's more for now.