After discussing with a local CPA, it looks like I am getting overcomplicated in my attempt to be creative.For the sake of simplicity, and assuming the numbers work, it may make the most sense to just sell my primary residence and purchase this one with a 30-yr note and just take the capital gains hit on the sale of our house (we've been in it for less than 2 years).

Thanks, this has all been turned over to my CPA, I'm really asking for my own edification.

Looking for a referral to smart and creative real estate attorney and CPA in Austin , TX.

. : 175 000 USDMonthly nrs:-Rental income : 1750-Condo costs : 700-total tax plus CPA costs: 100 -unforeseen: 50 Net return per month = 900 USD for a 6,17% return per year.

I am not allowed to post their contact info here, but you can look them up.Sean DiMercurio CPA CGMAPartner | The Heroes Group LLC www.theheroesgroup.comJames Duerrhttp://www.sbrorlando.com/about-us.html

This might create some odd tax scenarios, so consult a CPA for more info.2.

Jonathan,Your radar is working just fine...I am not a loan officer, or a CPA, but if you do honest deals with honest people than using a 2nd home approach doesn't fit.

I'm a CPA with experience in QuickBooks, Xero, and other accounting softwares, but I understand the big property management softwares also have the ability to track financials and so much more.

Therefore, I want to talk to a CPA.  

I currently have an LLC set up through legalzoom but encountering some banking qualification issues.Looking for a NYC based CPA who can lend some advise on RE company formations, OOS strategies, tax options, etc.