The reason I say to invest in opportunity zones is because large investors are coming to these areas and taking advantage of the tax savings.

Do you want to build monthly cash flow, stack big checks (flips), smaller checks (wholesale), or tax advantages?

It's relatively affordable, strong tech and industrial job growth, landlord friendly, low property taxes, and not state income tax. 

It changes your taxable status for income tax.

Hi Bigger Pockets Community,New member here...Im looking for some advice on whether I should be classified as a REPS or not for 2023 Tax year as my CPA isnt much help on determining if I should make this designation.

Scenario 1: Condo conversionI'll skip all the renovation details and get right to the point - reasonable net profit from this project would get me around $863,000 which, after LTCG tax would be around $733,550. 

In CA there is a tax deduction.

One last tip, make sure the base boards upstairs are not touching the floor, even just 1/8 inch gap is good.  

Landlord friendly, some of the lowest property taxes in the nation and positive job and population growth.

However, two oversights have affected my calculations: (Both dumb mistakes I can only blame myself for)Higher-than-expected property taxes and municipal fees in University Heights compared to Cleveland proper.Overly optimistic rental income estimates.After adjusting for these factors, including property management costs and other expenses, the revised cash-on-cash return is about $12,000 annually, slightly over 5%.