This includes budgeting for renovations, understanding your cash flow, and preparing for both expected and unexpected expenses.Legal and Tax Considerations: Consult with a legal and tax professional to understand the implications of renting out part of your home.

The units were then sold as condominiums (where separate tax ID's were issued for each unit) & the buyers had no issues financing the units.

Hey all,Looking for recommendations for an accountant / tax professional to prepare my 2023 (and beyond) taxes.

LLCs are not magic, but they really do help reduce liability. 

I am almost an expert in RE taxes and self file. 

However bear in mind that the projected cap rate is gross which doesn't include property tax and insurance.

Loan Highlights:🏡 Smart Financing: Successfully included $31,000 in back taxes into the loan, optimizing our financial strategy.🔐 Legal Enhancements: Revised operating agreements and leases for a solid foundation.💡 Creative Fund Sourcing: Innovatively secured an extra $40,000 reserve, ensuring financial resilience.

Also I am looking for a tax professional in NC as this is all new to me.  

Is it calculated on the gross income inclusive of varying sales taxes which vary from different counties and cities?

My sights are set on acquiring my first rental property in the Austin/San Antonio area, aiming for cash flow and a 7-10% yield on my down payment.Here is my initial plan based on the learnings I have done so far:Property Type: Single Family/Condo/Apartment also open for other suggestionsStrategy: MTR/LTR Budget: $300k - $400kCredit Score: ~750Down Payment: 15-20%Where I need help of this awesome BP community:Guidance & insights: I'm open to any advice and tips from seasoned investors and experts in the Austin/San Antonio market.Experienced team: I'm actively seeking investor-friendly professionals, including lenders, agents, property managers, tax experts, inspectors, and lawyers.