I.e. if you are a CPA with a good understanding of RE depreciation, you could contribute that to the group without having actually 'invested' before

Looking for recommendations for CPA or Tax consultant in the St Joseph/Elkhart county in Indiana.

When you are ready to hire a CPA reach out to @Nicholas Aiola.

I informed him about the PPP program and EIDL and I was amaze he was clueless that they existed his an older fellow I told him he needs to have a discussion w his CPA or accountant I got a feeling from his blank stare he doesn’t have I believe a lot of small biz owners aren’t saavy with what’s available..

So I'm looking at a couple of optionsa) Refinicing the property under our names and transfering it back to the LLC after (that would mean having another loan under my name and being 1 loan away from the loan max for a very small value, 50k)b) Allow him to buy me out of the LLC with a 50% ARV payment and he can refinance the property himself (not sure how that would work with taxes, I can ask my CPA) or keep the LLC under his name.

Agree with @Jamie Bateman - you need to sit down with a CPA that has experience with Real Estate investors/investments. 

On that note do you think it's necessary for the CPA/accountant to be in the same area as the investors - perhaps to understand local and state requirements?

Hi All,I live in San Mateo county and I wanted to reach out and ask suggestions on any local CPAs/tax preparers that have real estate investment knowledge. Thanks everyone!-Darius

You'd need to consult with your CPA, but many people no longer itemize deductions due to the increased standard deduction, so the mortgage interest on your primary may not be helping you from a tax standpoint.

Talk to a CPA, not a bunch of "experts" like myself on the interwebs.