I require at least 30 days stay, which helps get around paying city taxes on it.

I am currently looking for a CPA to help me with tax planning for the future and tax perpetration for the year. 

Get tax benefits and future cashflow.

Way more multifamily units (not even counting another 675,000 single family units under construction) than new household formations coming for 2024.Operating expenses, including taxes, insurance, maintenance, etc. are skyrocketing, and likely not all fully absorbed in the average property.And, alternatives that produce more cash flow than a 5% cap rate (average for prime multifamily real estate currently) with less work and less risk, like private lending, short-term treasuries, money market accounts, etc. 

Also wondering if anyone has feedback as to a good real estate tax advisor in our area?

The seller had inherited the property, it had been vacant for 5+ years & they hadn't paid the property taxes in several years as well.How did you finance this deal?

One property they asked for a non refundable 10k deposit and the house wound up having major structural issues that inflated the budget so much the property didn't work. 

Any inspections beyond the first showing would have to be after signing the assignment agreement, with non-refundable earnest money deposited.

I think I remember Tom Wheelwright saying never put a tax shelter investment inside another a tax shelter.Thanks for your input.

Unfortunately, property taxes and HOA fees have also risen, while rental rates for the property have not kept up.