Additionally, forming a new LLC may require obtaining a new EIN and business bank account.This post does not create a CPA-Client relationship.

This can provide a better depreciation benefit than traditional STR real estate.If permanently affixed to land, it qualifies for real estate depreciation (27.5 years for residential properties).Considerations:Zoning laws and campground restrictions may impact legality.Self-employment tax risk arises if you provide substantial guest services.Vacation home rules apply if personal use exceeds 14 days or 10% of rental days, limiting deductions.Audit risk is high, so keep detailed records of participation, expenses, and rental operations.Given the potential tax benefits and complexities, consulting a real estate tax professional is advised to ensure compliance and maximize deductions.This post does not create a CPA-Client relationship.

Feeling good after reading Naresh's post.

Your time is best spent producing the revenue that allows you to invest in the first place.That includes using local agents you meet and feel are a good fit for you, property managers, possibly buying completed properties like the one you posted here, and outsourcing as much of the process as you can as you get started. 

Its a pleansant afternoon with proper ear protection :)

Looking at your posts your in Maryland a high density area.3.  

Originally posted by David Taylor:Originally posted by @Steven Hamilton II: Originally posted by Tony Bc: We (husband and wife filing jointly) are looking for a CPA.

Appreciate any guidance.Best regards  My recommendation is ot search the forum posts here on SDIRA and lenders as there are very few lenders and you can google and look up here on BP the terms that they provide. 

Other CPAs and firms have quoted me 5k-10k+ but are no where near as responsive and personable as my current CPA and accountant.You are going about this properly.  

We’re focusing more on quick flips that match our strengths and allow us to continue delivering value to the community.This post is a reminder that every project teaches us something, and we’re always learning to better serve our buyers and sellers.