Quote from @Chris Seveney: @Michael NorwoodYou would be close if you reinvested the earnings every yearAssuming you can make 8-10% per year by year ten you will have $1.6M-$2.2M invested not including the reinvestmentsThanks for highlighting the potential impact of reinvesting earnings!

Your property taxes might be going up if a new plan passes.The legislative proposal -- which passed a key legislative hurdle yesterday -- would classify short-term rentals rented for more than 90 days per year as commercial property for property tax purposes. 

No property manager needed and you can offset your income with tax deductions.  

You can live in your Residence for 2 out of 5 years and when you Sell it is Tax-free up to $250,000.

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.

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.

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