Here are some recommendations for you:Find and connect with other BP members that are in your area:http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you:http://www.biggerpockets.com/alertsRead Beginner’s Guide:http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts:http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

I have kind of a unique problem as I am trying to purchase my first rental property.I am 28 and looking to purchase my first property.

Tax strategies must be tailored to each person's unique situation and what they actually did.  

Focus on creating a unique mailer so you stand out from your competition.  

@Jim Witten,On your next one, set up the entity first as, say, some unique LLC name, close the acquisition, then rename the LLC.

For specific guidance for your unique circumstances, consult your own CPA.

My situation may be unique but they're worth checking out.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

As Russell says it is "very strict", and again, because it's unique to Maryland, most investors and teachers outside the state have never heard of it, much less know how to deal with it.

I have been active on BP for more than two years, and this is the most unique REI plan I've heard about here or anywhere else.