My 250K tax benefit will run out before his lease does on the 2 of 5 rule, so it might be a good time for me to sell - and help him with a lower rate than banks can give while giving me income until he refinances.

They have the expertise and equipment to handle these types of situations effectively.

Hi Bigger Pockets Community,New member here...Im looking for some advice on whether I should be classified as a REPS or not for 2023 Tax year as my CPA isnt much help on determining if I should make this designation.

Scenario 1: Condo conversionI'll skip all the renovation details and get right to the point - reasonable net profit from this project would get me around $863,000 which, after LTCG tax would be around $733,550. 

In CA there is a tax deduction.

Landlord friendly, some of the lowest property taxes in the nation and positive job and population growth.

Your passion for creating functional yet visually stunning spaces is evident, and I'm thrilled to have someone with your expertise joining the real estate scene.

However, two oversights have affected my calculations: (Both dumb mistakes I can only blame myself for)Higher-than-expected property taxes and municipal fees in University Heights compared to Cleveland proper.Overly optimistic rental income estimates.After adjusting for these factors, including property management costs and other expenses, the revised cash-on-cash return is about $12,000 annually, slightly over 5%.

There are definitely commenters in this thread that could help Antoine and give him advice from their perspectives and expertise, but so far not much has really come across as genuine, in my opinion. 

This will reduce your turn times allowing you to scale much quicker... not to mention reduce the unknow variables that come from having to wait for longer seasoning periods.The main benefit I see with a DSCR Loan is you don’t have to provide your tax returns and provide the documentation on all your other properties.