In a recent post about how to minimize the taxes on rental income it was mentioned that: Setting aside reserves is an expense, so long as they are not excessive.

I had asked them multiple screening questions prior to the showing and then toward the end of the showing and out of nowhere they asked if they could receive a discount on the first month's rent so that they could buy new furniture... living room, dining room and bedroom sets. 

I’m debating if I should implement rent increases for current tenants during lease renewal, even if it’s just $25/month to help keep pace with increasing costs and taxes. 

Hello, I am wondering if anyone knows of a few CPA's with lots of rental property experience to help me sort out my first year of taxes and deciding on an LLC in the Denver/Littleton area.

In general the holding cost I estimate are utilities, loan payments, taxes, and up keep costs for example.

My lawyer  needs advice from someone more versed in the tax law.

They are both listed on title of the property and my wife has been using it and paying primary residence taxes on it. 

Accountants are in such demand, that the best are not even accepting clients half the time.The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.Another thing I see is folks thinking they need to have a tax professional in their state.

They invested with people where prior relationships existed and had a lifetime to vet.

You can try to use their taxes for verification but it is still difficult, CAP rates will not reflect tenants that need to be evicted.Hopefully, this has been helpful in providing some additional aspects that are unique to CAP Rates and Mobile Home Parks.