I ask because I am up here in Pinellas by the Gulf Beaches and our 2-4 Units run between $300K to $650K.Miami 2-4 Units run between $850K to $1.8Million and the Taxes and Insurance premiums are higher.

Here's my situation: I accumulated credit card debt to finance my last property rehab, which is now rented and generating income.

The price of the houses are astronomical,  property taxes is the highest in the States.

Something to consider is to "donate" a portion of the rent they can't cover if you need a tax write off.

I would also appreciate and benefit from tax consulting along with general tax planning.

You’re not creating a tax deduction you’re only pulling it forward.

That sounds like a smart move, especially with the tax benefits!

Tax RepercussionsKeep in mind that every real estate market is different, so you need to adjust your strategy to the particular circumstances of the region you are investing in.

You normally report your rental income and expenses on Form 1040 or 1040-SR, Schedule E, Part I, when you do your taxes.* What do I do to ensure that my property is safe legally from any lawsuits?

I’m looking for a real estate friendly CPA in the Central Valley California area (Tracy, Lathrop, Manteca, Stockton, Lodi, Modesto, etc) to help me with my 1st year of filing taxes for my LLC, taxed as S-corp.