Hi, all, First post and was hoping to crowd-source some advisement re: to preparing taxes as I plan for next steps.  I'm definitely wet behind the ears re: real-estate investing wanted to listen to any tax advantages/...

We both have careers in the social services sector, so not high income earners, and I've also taken a break to raise our kids (though I'll be returning to work part time soon). 

Obviously it's a guesstimate at best to predict  however with the current recession , unknown election results / implications and covid unknown it has me thinking we see a retraction in prices at some point.2011-14 price levels would be horrific depending on your market and what you bought in at. 

If you haven’t already, you may want to place an ad on social serve.org or gosection8.com.  

@Celia MooreI would like to copy and paste your words in posts in various social media outlets.

I have a technical and marketing background and being a marketing manager has allowed me to manage email campaigns, newsletter campaigns, as well as all social media content and presence for the last 2 years at my company.

I have a technical and marketing background and being a marketing manager has allowed me to manage email campaigns, newsletter campaigns, as well as all social media content and presence for the last 2 years at my company.

@Michael Plaks - S Corp will involve unnecessary complexity - accounting for extra entity, dealing with payroll, and it won't solve the problem fully - part of the profits must be distributed as salary with all social security taxes and only part can be distributed as dividends.

I have the tenant complete the Cozy application and I get a photo of their state ID, social security card and last two months pay stubs.I require the credit check and that I rely heavily on that for the approval process. 

Yeah, the degree is for sure the “social” norm but that is not what I am referencing.