And prepare for longevity.

It seems to me reasonable to declare myself a real estate professional this year, and in preparation I have been documenting my hours through a tracker with supporting emails, photos, etc.

The IRS does not have the burden of proof that it is.I always advise my landlord clients to prepare them, unless they're fine with the risk of penalties.

But if your cleaner is going to clean every week (just an example), it just seems excessive for the cleaner to be preparing so many invoices.

Just be prepared to lose it all if the market turns, the municipality changes the rules or the owner decides to do it themselves.

I'm preparing to syndicate my first deal 20+ units in Ohio, Kentucky, or Illinois.The plan is to get to 100+ unit syndications but I'd like to do a smaller syndication first before I go big.I'd love to connect!

As a landlord and income tax preparer I am glad to help.

-With a 2-3 unit property, there is going to be more maintenance than with say a condo, are you prepared for that?

For the past couple months I have been analyzing deals to get used to running the numbers in preparation for my first deal, now I would like to start getting familiar with analyzing markets.So my question is how do you all go about analyzing markets, what are redlags in a market, what to look for, what are good sources for information, do you focus on one zip code, and etcI want to be as prepared as possible for my first deal so all information and strategies is very appreciated!

You can prepare a promissory note and hold the title until they pay in full.