Im new to real estate investing, I have 7 years of experience building from new homes to commercial builds.

Let me know if you have any experience with these.

Ask how many units they manage and how much experience they have.

Hey Tameka, do you have any building experience?

I'm reaching out to this knowledgeable community to connect with fellow investors and real estate agents who can offer insights, share experiences, or point me towards potential investment opportunities in the area.A brief introduction: I recently embarked on my real estate investment journey with the purchase of a property in California, April 2024 for $180,000, applying the BRRRR strategy to maximize its value.

We started using Obligo as an alternative to security deposits and have had a good experience with it so far.

House hacking will also give you some personal "property management" experience.

In my experience, I have witnessed both positive and negative impacts on property values since I started selling real estate in 2005.

Connecting with a professional in the area that has a lot of experience with rental values and prices would be a great first start.Everyone wants to make a killing on their investment property, but a lot of people have to be realistic when they start.

Some examples of this would be 1) depreciation calculations such as switching from straight-line depreciation to accelerated depreciation (often used for cost segregation studies when not performed in the year placed in service), 2) income recognition, and 3) inventory valuation such as changing from LIFO to FIFO.Correcting a mistake: If you realized that you used an incorrect accounting method after you filed your tax returns, you can file this form to request permission to change to the correct accounting method so that your tax reporting is accurate.Here’s a chart that you may find helpful when deciding whether you need to amend your return or file a Form 3115.As always, I recommend consulting your CPA or tax advisor as the rules can be complex.What is your experience with filing a Form 3115 or amending your tax return?