Let's say I partner with a couple of investors and we purchase a multifamily unit and plan to manage it ourselves. WE each log in our 750 hours to qualify as REP status. IN that situation can we all get a share of the "bonus depreciation" from the property and be able to off set our W2 income ? Thanks.

Any recommendation on Cost Seg study expert? Can this be done online, or is an in-person visit required? My STR is in Oceano CA and Fremont CA. Thanks in advance!

If you're looking for accounting software, check out REI Hub. I recently started using it, and I love it so far! I've always been good at keeping receipts/ invoices, but was never sure I was catagorizing my expenses correctly and saving my scanned documents in the most efficient way. REI Hub has taken all the guesswork out of the equation. You connect it to your bank account and the credits & debits automatically transfer into the Hub. There you can assign the transaction to the appropiate catagory and then upload your receipt/invoice to that specific transaction. It's giving me a clear picture of my STR financials and make tax time suck just a little bit less this year. Please like and comment as I need to get to level 3. 😀

Hi all, I'm a long time user of Quicken for my personal finance. I know, you can make fun of me - I get it! At any rate, it worked perfectly fine to run my part-time rental, part-time 2nd home through their Business & Personal software option. However, I'm a full-time real estate investor now, closing on my 2nd property next month, and am considering leveling up! With 1, soon-to-be 2 properties, and dreams of 2-3 more in the next 2-3 years, please answer my poll, I'd love to hear your POV as well as any commentary about why you recommend what you do. Could be from a tax / CPA perspective / real estate investor perspective / or small business owner perspective - I'd love to hear your thoughts! Thanks in advance, Josh

What pre-work activities for a specific deal prior to closing count towards your material participation hours? Also, is there a tool you would recommend to track that?