Hi, I’m Manny!! Excited to be part of this amazing community. I am a physician earning W2 income and my partner (soon to be wife this year) is a newly minted real estate professional. We are trying to educate ourselves as much as possible and are hoping to get into our first investment property this year while maximizing our tax strategy. I have read that cost segregation can apply to STR. Does this also apply to long term rentals? How about multifamily properties (short and long-term rentals)? finally, do I need an LLC for my first property? What are the pros/ cons? Sorry for all the questions, much appreciated and thank you kindly in advance!!

Hello everyone. I'm Michelle - originally from SoCal and living in NYC now. I have an LTR in Anaheim, CA, an MTR in Astoria, NY and working on another MTR in Arverne, NY... if my contractor will ever finish! It's been over a year and such a harrowing ordeal. We're hopefully going to be done in January. Once I get that up and running, I'd love to relax a bit and do some passive activities like PML or syndications. Then once I recover I'm looking to do another big renovation and an ADU. Looking for PML learnings... TIA!

Last year I started an LLC with a partner, and I believe I need to send my partner a K-1 form. How would I go about this? What's the deadline? Thanks!