There are various ways to do this in QBO, but this is how I typically do it for myself and my clients in the Chart of Accounts.Real Estate Owned> Land> Buildings> Closing Costs> Capital Improvements> > CapEx 5 years> > CapEx 15 years> > CapEx 27.5 years> DepreciationOnce the tax return comes in I will adjust for depreciation.

(referrals would be appreciated)I suppose the settlement agreement executed Feb 6th prevents me from assigning the mortgage in his name to the probate estate… However, I’ve read that since he’s deceased I could potentially assume that mortgage at the 1.6% that’s locked in… if I knew or if that was the case I certainly wouldn’t have sold… Purchase $1.4 2021Mortgage $260k @ 1.6%Improvements $187kSale $1.985 2024Commission total: $3.5%

I would work with a trusted, investor-friendly real estate agent who may be able to help identify which areas this could potentially be (as far as zoning).

Running the numbers thoroughly will give you confidence that you’re making a wise investment.Leverage Local Knowledge: Partner with a real estate agent or broker who specializes in multi-family properties in Austin.

I would like to add what qualifies you are a short term rental investor that can take advantage of this "loophole" below: The short-term rental (STR) tax loophole allows property owners to classify rental income as non-passive, enabling them to take advantage of certain tax benefits even if they don't qualify for Real Estate Professional Status (REPS).

Interest rates are up, and look at these forums: there is less demand for real estate, particularly anything with an investment purpose.  

So today I was talking to my mentor and we were considering different real estate strategies to expand my horizons.He mentioned mixed-use properties, which I honestly have never considered as an investment.

To navigate these complexities and ensure you’re optimizing your tax strategy, it would be wise to consult a tax professional who specializes in international taxation and U.S. real estate.

I am very interested in real estate and been learning a lot.

https://www.zumper.com/blog/rental-price-data/Hey Real Estate Investors,Here is the latest rental trends report from Zumper.