You may be able to achieve several favorable results with that strategy:eliminate (or significantly reduce) the tax event from the sale of the homeno more dealing with tenantsestate planning that would allow you to direct proceeds in case you pass away before your wifecash flow and appreciation similar or greater than what you have currentlyFeel free to PM me to dig deeper. 

I told him before we got too much deeper into everything I would need to get a property inspection done which he is fine with.

;)For anyone interested in out of state investing or Kansas City real estate, you need to look a bit deeper here

You can get yourself into a deeper financial hole.Whenever buying real estate in Philly always make sure you get a cert from the city that shows that is is clear of violations unless you agree to buy "as-is"Your realtor should present this cert to you before closing

Good luck and dig deeper with post from those on BP.

In this article, we'll delve into the intricacies of 1031 exchange real estate investing, exploring how it works and the benefits it offers to savvy investors.Understanding the 1031 Exchange:The 1031 exchange, named after Section 1031 of the Internal Revenue Code, allows investors to defer capital gains taxes on the sale of a property if the proceeds are reinvested in a similar property.

I'm here to respond to your inquiries, offer valuable perspectives, and absorb the wealth of experiences from our diverse community members.Please don't hesitate to reach out and connect with me or send a message if you have any questions related to real estate accounting or if there's a specific topic you'd like to delve into further.

We are trying to determine if we need to go with a new CPA that has deeper REI experience and we want someone to give us advice on the best strategy to reduce our tax liability - specifically things like material participation as we are doing all the work for the STR. 

In this article, we'll delve into the world of real estate depreciation and explore how you can harness this financial tool to your advantage.Understanding Depreciation in Real Estate:Depreciation is a fundamental concept in real estate taxation that allows you to deduct the cost of an asset over its useful life.

In this article, we'll delve into cost segregation, what it entails, and how it can benefit real estate investors.What is Cost Segregation?