However, if you are going to take advantage of cost segregation, I would recommend working with a CPA that specializes in real estate such as Michael, Ashish, etc. or I'd be happy to provide additional recommendations rather than doing it yourself through turbo tax.Here's an article with additional FAQs on cost segregation studies that you may find helpful.

Hi Ambrea,To get into fix and flips, I started by focusing on a few key steps that helped me find success:Educate Yourself: Learn the market, analyze property values, and understand rehab costs.Build a Network: Connect with real estate agents, contractors, and lenders.Secure Financing: Consider hard money or private loans for quick capital.Find the Right Property: Look for undervalued homes in growing areas.Create a Detailed Plan: Budget carefully and have a clear timeline for renovations.What worked best for me was staying disciplined with my numbers and always having a solid team in place.

Open a personal account, use their banking services & if you can demonstrate a track record of executing on the real estate loans they fund for you, these relationships can really accelerate your growth.

Definitely consult a real estate attorney in your state to see what your legal options and duties are.

When I first started my real estate journey in 2018 and started listening to BiggerPockets Real Estate podcasts, I was only familiar with Cash on Cash return.Once I actually entered the game in 2020, I quickly realized that there were many more calculations to take into consideration:ROI - Return on InvestmentROE - Return on EquityIRR - Internal Rate of ReturnEM - Equity MultipleCap Rate - Capitalization RateCoC - Cash on Cash ReturnAAR - Average Annual Return(I’m sure I'm missing some)I still struggle to juggle all of these calculations today.Developers, syndicators, flippers, etc., will all have different preferences.Which key calculations do you prioritize on when analyzing your deals?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I first got started with real estate by buying a 3-flat on a whim 5 years ago and now I am back for more.Happy to meet everyone!

Supply & DemandUnlike financial markets, real estate prices and rents are driven by supply and demand.

In addition to what others have already shared, I'd suggest meeting with a local real estate attorney.

And many situations use a combination of the 3 approaches.The single family house (sfr) is real estate, since it is (presumably) permanently attached to the land, etc.