I need to prepare for tax filing and potential audits, but I'm unsure if receipts for every expense are necessary.I had an incident where the PM mentioned a referral fee of $350 for a tenant, but the bill showed $400.

How much should I budget for taxes on rental income (For example if mortgage and fees are an even $3000 per month, what should I actually charge to breakeven after taxes, much less cashflow)?

Failure to repay the loan according to the plan's requirements could result in penalties and tax consequences.Tax Implications: While 401(k) loans are generally not subject to income tax or early withdrawal penalties, there can be tax implications if the loan is not repaid on time or if your husband defaults on the loan.

They still have an accurate filing.Perhaps this is all your accountants fear of some sort of liability blow back?

It does Not lower your Tax Liability, dollar for dollar.  

I still hold the majority of the liability and responsibility for the property, but let someone else to make $$ on it just so I dont have to do as much work myself.

We are leaving CA for tax reasons and because the distance of maintaining properties was getting to be too much (there were not great property managers or contractors so we were having to travel back for everything).We have made a few offers on 4plexes in Las Vegas but have not found the right property yet. 

To make the best choice, carefully calculate the financial implications, align with your long-term goals, research the market for larger buildings, and seek advice from a tax professional to navigate potential tax impacts.

Accurate books for a seamless transition during tax time. 2.

You’re up $15k while one of these two lenders pays taxes/insurance and 1st position tries to foreclose.