First I am assuming by several years it has been more than 2 tax reporting years since the 1031 exchange.

And that means if he later sells at a profit, the suspended loss will reduce his capital gains (maximum 20% federal tax).

Aside from mortgage and tax filing implications, what other considerations should I be thinking of?

Anyways onto my question:There are a lot of tax incentives to having an STR if you do it yourself.

I'm wondering if anyone knows of a good CPA in Davis or Salt Lake County who has experience doing taxes for real estate investors.Thanks,John

Sounds like its a $4k tax planning fee and then they do your taxes as well for an additional fee. 

Looking into cash-out refinancing and DSCR loans and all of that but I'm getting ahead of myself as I don't even have the 1 yet lol.Nobody in my family has any experience with this sort of thing so I'm just hoping someone can give me their opinion on if this investment makes sense.The home is currently being rented for 2900 total (all tenants are month to month and have been there about a year each) and my monthly costs would be 1,200 included taxes, insurance, mortgage etc.I am considering putting the home on section 8 because the fair market rent would make my monthly rent 4k+ but I'm weighing the pros and cons on that avenue.From what I understand the biggest costs to me as a home owner would be a new roof or fixing the pipes for any reason..

I like the idea of getting around short term taxes and legislation.

I have recently consulted with both WealthFactory and Wealthability regarding tax and wealth planning.

Market rents from the appraisal and/or the actual rents need to cover the mortgage payment, property insurance, taxes and HOA (if applicable).4.