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.

You can summarize your transactions yearly by SchE tax category to support tax filings.Hope that helps. 

My formula is not complex... something like this:High school rating > 8"(Estimated Rent x 12) - HOA - Prop Tax - Insurance @ 0.3% - Vacancy @ 5% of rent - Debt Service @ 8%" > 0I want to be able to customize the metrics, and find properties I can purchase as an investment.If anyone is an avid user of StockRover and their custom metrics, that is exactly what I am looking for - but for real estate. 

I am self employed and run a trucking company so I write off my income to pay as little tax as possible.

Is this property tax deductible? 

Definitely worth chatting with a tax pro to make sure you're set up in the best way possible.

Put it on the market, take your (up to) $500k tax free gain and buy a no attachment rental if you want.

How many of you have got your tax bill for this year?

My current flow is 1) find a house that matches the configuration (X beds, Y bath)  in a certain neighborhood (Redfin or my agent)2) pull up rent data in rentometer / Zillow 3) run through my spreadsheet with expenses, taxes, insurances and etc I would love these to be automated.