These are professionals with additional training and a stricter code of ethics.

The Annual Owner Statement should break down all the expenses that the owner's tax professional then figures out how to deduct and on what tax schedule.

A professional manager can find qualified tenants who respect your home and handle day-to-day issues.

Would having professional photos and virtual walkthroughs help attract buyers/tenants faster?

Hi Mia, Great suggestions for questions to ask a potential tax professional!

It has cost many people including myself a lot of unnecessary money and still is because you deal with the tax portion of opening unnecessary LLCs recommended by supposed professionals. 

@Eli JermanYes, you should hire a tax professional.

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

In Phoenix, where I’m based, or in markets like San Antonio, the best realtors do more than just list properties.. they go “driving for dollars” to find oppurtunity, leverage their local networks (probate attorneys, CPAs, divorce attorneys) and carefully analyze each property’s cash flow.

DISCLOSURETHE FOLLOWING IS FOR INFORMATION ONLY, AS I AM NOT AN ATTORNEY, YOU SHOULD SEEK PROFESSIONAL LEGAL ADVICE.So what must you do?