However, you will be required to file a non-resident state tax return in the states that you own the properties.Proximity of your accountant isin't as important as getting the right accountant who understands real estate taxation.

To give some background, I work in public accounting as a tax CPA who automates corporate tax calculations with technology.

Here's the numbers:Purchase price: $135kARV: $190kRepairs: $20kRent: $1500Owner finance terms are $28k down @ 6.75%, seller reports a monthly PITI of about $1200 but I have it more around $1000.My thoughts are that CoC isn't great @ 2.85%, neither is cash flow @ $150 after accounting for vacancy, CAPEX, etc.

Originally posted by Account Closed:Hi all, My name is Wyatt Duncan.

I have to mention that I do have a relationship and a bank account with a local bank in Florida and I do own a LLC in OhioWould I be able to use the equity on my two properties to pay down the deposit for the third one?

I am looking for recommendations on the best receipt tracking app that will allow me to export data my accounting software.

Hey all,I'm looking into pulling a loan out of my TSP account in order to make the down payment on a duplex I just got under contract.

The only thing I think your accountant can be thinking is that the home office needs to be used regularly and maybe your accountant's definition of regularly is 14 hours a week(750 hours).

Your LLC can be taxed as a sole proprietor and for the LLC to do as intended ("Limit" your "Liability") you must completely separate personal and business expenses, credit card, bank accounts etc etc and obtaining bank financing may be impacted.

Whether you take any money from the accounts you use for rental properties or not doesn't affect taxes.