Each year being worse than the one before with higher insurance, property taxes and wages?

And keep in mind this is in addition to your normal tax liability.

And there's the unpaid taxes for operating illegally... i'd give this property a thumbs down.

We are looking for someone to help us file taxes (both for LLC and personal) for this year and try to mitigate any tax loses, but also who we can build long term relationship as we grow our portfolio.

(Someone to receive notices on your behalf)Residential income properties need a Transaction Privilege license in most locations (Rental Tax)Property Management is a specialty in the industry and it's very possible your sister has her license with a broker that doesn't allow her to do property management?

Because otherwise its becomes very difficult to manage these things.Do you know if there are any tax implications from moving the property in and out of an LLC for a cash out refinance.

The rest of my tax/income situation is very basic.

Here are some general tips:1.

Good tip on the conventional guidelines.

Sometimes its smarter to sell due to the tax benefits our country provides (stepped up basis).