I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return.

I am preparing to hire a virtual assistant in the next week or two.

I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return.

I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return.

HOA fee - If HOA fees are not paid, the business will incur fines, so it is necessary to make a profit in the business.8) Marketing expense and advertising9) Cleaning and maintenance10)Commission (Expenses like commission, abstract fees, recording fees to obtain your mortgage are not deductible but rather capitalized )11) Insurance12)Legal and other professional fees(Tax preparation for business, not personal part)13)Management fee if applicable14) Points- you generally cannot deduct the full amount the first year but have to deduct them over the term of the loan.15) Repairs (Note always do repairs rather than improvements to rental because repairs are deductible right away and do not have to depreciate over a few years as done for improvements.

It is unbelievably easy to screw up preparing a contract.

there are probably guys that can put the property back together for $60k, but I would look at their scope and background very closely.I've seen dozens of guys get burned on gutted properties they think will cost $50-60k to get rent/sale ready...maybe this is who you want to flip your contract to...just watch the progress and be prepared to snap it back up when they run out of money.In reality, you should have an architect/engineer on the scene to develop the scope and construction cost estimate.

It's not just a matter of favoring but what your team is prepared to handle.

Even good tenants can turn bad and Landlords need to be prepared to deal with those situations.

You will get offers from "joker brokers" who are trying to be middleware on pools they don't control, so be prepared to weed-out those time-wasters.Bob