This could lead to significant tax savings, especially if you're actively involved in the management and operations of your properties.Additionally, starting a property management company would allow you to deduct a wide range of business expenses related to managing your properties, such as office supplies, travel, marketing, and payroll (if you hire help).

By forming a property management company, you could deduct business expenses like office supplies, software, and possibly a home office, which you wouldn’t otherwise be able to claim.

The office administrator did the initial due diligence, the corporate counsel reviewed the lease, the accounts payable coordinator setup the accounts and sent the security deposit, one of the VPs signed the lease, and only after all of that occurred did I get the name and contact information of the tenant.- Now I am in their system as a Vendor/Subcontractor.

Additionally, depreciation on the building (not the land) is a significant deduction, and if you manage the property from home, you may qualify for the home office deduction.

A PM company in California is required to have a broker officer, so either your dad can take on that role and put you in charge of the operations, or you can obtain your broker's license first.

Investment Info:Other buy & hold investment in Pacific Grove.Completed a 1031 exchange into a retail/office building, then converted the second floor into a short-term rental (STR) and mid-term residential unit.

I got a lot of misguided & deceptive advice from various loan officers who just want to close & did not explain what was really happening behind the scenes.

One thing you might want to consider is partnering with microsoft and adding a third party app to their office 365 suite of products as they have an accounting arm and many other applications already in play that you could add on just for property management and it would work on their system to integrate everything.

To qualify as a Resident Agent the representative must reside within a 25-mile radius of the Town of Baileys Harbor or be a corporate entity with offices located within a 25-mile radius of the Town of Baileys Harbor.7.

I would run the idea by the assessors office and maybe the code department.