You may join in conversations, pose questions, and maybe even locate mentors who are eager to provide advice.Real Estate Investment Associations: Find out about regional or local real estate investor clubs, as well as REIAs (Real Estate Investment Associations), in Texas.

They still haven't provided what they promised to a few friends of mine and it's been a few years for each.

After these sacrifices you'll start to provide VALUE to other people (investors, friends, family).

Factor in the age and condition of the properties, as well as potential appreciation rates in both markets.Diversification: Investing in a new geographic area can provide diversification benefits.

.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.

This can provide liquidity for your next investment or accommodate potential relocations.No Residency Requirement: Unlike house hacking, fix and flips don't require you to live in the property, allowing you more flexibility.However, keep in mind the challenges and risks associated with fix and flips:Market Analysis: Successful fix and flips require a good understanding of the local market.

@Catherine Javier I have worked with a number of great CPAs that specialize in real estate taxation over the years and would be more than happy to provide you with recommendations if you'd like?

We would enjoy keeping vacancy rates as low as possible, providing great tenant support, and even some simple maintenance and up keep on short or long term rentals.

Document all communication, including any promises made by the tenants to pay rent or excuses provided for non-payment.2.

Landlord provides tenant (at tenant's decision) the option to limit potential damages by agreeing to pay 2X rent as lease break fee".