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 information will help me understand this business better.

Think about how can you make your property a no brainer when having to decide between an apartment and a home. 2-Contact homeowners who are not in your close proximity, so they do not feel threatened, and ask them what are they seeing in the market, and how are they are adjusting (most likely you are not the only one who is experiencing this). 3-  If you decide to work with a real estate agent, use one that works with rentals, and better yet, someone who specializes in property management as well, because they will help you weed out  bad applicants. 4- This last one I do not have experience with, but I would definitely try it if my rental was near a hospital: Partner with a company that finds housing for traveling nurses.

If you have a scenario that you'd like to get funded I'd be happy to see how I can help.

I'm happy to help you get connect to people, resources, and ideas here in WNC.

Reach out to see if we can help you with a fix & flip or to grow your portfolio.

We help clients close numerous multifamily deals in the valley each month and have good pulse on what's happening.Matt

I've already closed on the house and currently have an LLC in CT but have not moved the property over to the LLC yet because I wasn't sure if it makes better tax sense to move it under an LLC where I live (CA) or an LLC where the property is located (CT)... any help you can provide is much appreciated! 

Hope this helps.

I'm struggling to find good tools/strategies/professionals to help ballpark the rehab costs so I can make a reasonable offer.