.- Understand passive activity loss rules limiting deduction of losses from passive activities.Capital Gains Taxes- Be aware of tax implications when selling property, considering short-term and long-term rates.- Explore strategies like 1031 exchanges to defer capital gains taxes.Deductions and Expenses- Know eligible deductions: mortgage interest, property taxes, insurance, maintenance, and management fees.- Maintain detailed records of all real estate-related expenses.- 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.

Lastly, be transparent about ditching the property management company, emphasizing streamlined communication and potential cost savings for them.

However, downsides include regulatory restrictions on bank lending, many institutions that restrict concentration and geographies, and other headaches and issues that arise when dealing with a slower-moving bank.DSCR loans are the option that has completely changed the BRRRR lending landscape in the last few years.

I'm a Dad to Logan 9, Lucas 6, husband to Wendy.I've spent the last 11 years as an entrepreneur in the digital marketing world, primarily focused on physical product eCommerce (I own 2 brands that operate on Etsy and Shopify), and most recently having kinda accidentally built a few 100k social media following as the Carnivore Dad.I’ve been interested in and attracted to real estate for years but I just made excuses that had me staying in my lane of digital marketing, however I'm here now and eager to learn.I settled on Texas as my primary state because I have family here, I love meat, and I’m interested in firearms.

Everyone wants to move out as soon as possible.Thankfully, I have moved out last month, but you haven't returned my deposit yet.

Screen tenants - Implement thorough tenant screening processes to minimize risk of vacancy and potential rental income loss.4.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The good news is that there is an unusual split in the market now, which won’t last forever, of which you can take advantage.Residential properties, at least in SoCal where you own, are still selling for relatively high prices.

We have 3 rentals, and Turbotax says we made about $27k off the 3 combined last year, so I ended up having to pay the IRS $8k.

I literally had cameras installed last week.