I have one long term partnership that we share capital but I still do all the work ( rain maker) he is a cpa so he does do the books and tax return though :)  WE built one subdivision together were he put in 500k and I made him 1.2 mil in 18 months net profit so that was not bad.

The only inconvenience is I have to pay booking.com a commission at the end of the month, and I have to remit the local taxes myself vs.

IF you need 100% financing and lets say its $200k deal, the lender will be interest only at $150k at 12% = 1500/mo + taxes. insurance etc.

If you're still looking for a CPA/Tax Strategist in California feel free connect.

At a high LTV your leverage will be magnified.If your cash flow really is break even (I have my doubts) then with the magnification resulting from leverage, you could produce a fairly good return (ROI from leveraged appreciation, equity pay down, tax benefits).Good luck

In that case you might save taxes building with them.

The only taxes I remit directly now are the tiny town tax they implemented of 1%.I just take my net income spreadsheet and calculate the 1% and give them a check.

Hi Steve, where did you get your property tax estimate from?

I usually run several CMAs, with different criterial, and of course compare tax appraisal value with a wholesale price, add 5% as a fee to a transaction, in some cases.

Question for any and all.. we have had trouble finding a real estate investor friendly CPA, one that proactively wants to help us learn and obtain all the tax rewards with real estate.