Hi guys I have a tax question even though its not real estate related i'm sure someone knows the answers i'm looking for.

Thursday I completed a large rehab in mission beach on a small unit that was supposedly built in 1901 but I question if that is accurate (I have some belief it tax built in the 1920s, but records show 1901).  

Ideally, my property generates around $500 per month cash flow after accounting for rent, insurance, tax, interest, PM fees.I’ve recently realized that repairs costs have notably affected my profits.

I check county records, tax records, current appraisal from the local municipality, and check for comps in the local are with respect to the properties condition. 

She may run into gift taxes to the kids depending on the amount.

Yikes on those fees!

My only income is 1099s, which I write off a majority of it to lower my taxes.

We ended up finding a local CPA who we’ve been with ever since - no yearly fee, no monthly fee, no hourly fee.

I bought these properties cheap, had them fixed up and not have they appreciated a lot that also generate a nice tax free cash flow that goes back into my IRA to be redeployed into more properties.This is a huge tax free money maker. 

We will usually comp cleaning fee or give gift cards to local restaurant to comp any legitimate issues.