Regards,EmelieHi Emelie, You don't necessarily need a CPA in your area.

You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.

I see you are a CPA.

Work with the local experts- talk with local zoning officials, engage architects, and reach out to contractors to understand the cost and feasibility of your project.Run your numbers- do some forecasting and layout some financial models to project costs, revenues, and returns.Make sure you are utilizing your team- aforementioned real estate broker, financial advisor/ CPA, and lawyer and others as you go.Best wishes and good luck.

But you probably want to check all this with a good RE CPA.  

CPA professional mortgage Lessons learned?

Advice telling you what is better for you is best left to your CPA and attorney.Personally, I have had umbrella insurance for many years.

They will be able to help you evaluate the deal, find a CPA who can analyze their books, make sure you have all necessary contingencies in your offer and find the any and all skeletons in the closets...Good luck!

This is a great forum, but don't be surprised when Joe from Ohio, who read a Carlton Sheets book in 1988, tells you how to set up a depreciation schedule for your portfolio only to have it bite you in the butt simply because you didn't want to pay your CPA.

you get mortgage paydown every month; you might be able to reduce your taxable income from your W2 with passive losses (consult your CPA); hopefully you get appreciation; maybe you get a little cash flow; etc.