{"id":171126,"date":"2024-04-24T11:27:33","date_gmt":"2024-04-24T17:27:33","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=171126"},"modified":"2024-06-03T05:47:11","modified_gmt":"2024-06-03T11:47:11","slug":"how-politics-is-making-these-states-and-cities-uninvestable","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/how-politics-is-making-these-states-and-cities-uninvestable","title":{"rendered":"Warning: These States and Cities Are Becoming Uninvestable Due to Politics"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC7068335902\" width=\"100%\"><\/iframe>\r\n  \n\n\n\n\n<p><span data-preserver-spaces=\"true\">Taxes and regulations impact your bottom line as an investor\u2014and not always in direct or&nbsp;<\/span><span data-preserver-spaces=\"true\">obvious<\/span><span data-preserver-spaces=\"true\">&nbsp;ways. Unfortunately, as soon as you start talking about either one, the average person closes their mind, circling the wagons around their existing worldview and only hearing data points that support it. Look no further than this&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2319992\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Yale study<\/span><\/a><span data-preserver-spaces=\"true\">, which shows that people perform worse on math problems if the correct answers conflict with their political ideology.&nbsp;<\/span><\/p>\n\n\n\n<p><strong><span data-preserver-spaces=\"true\">I\u2019ll get it out of the way now:<\/span><\/strong><span data-preserver-spaces=\"true\">&nbsp;I find both major political parties reprehensible and hypocritical. I\u2019ve voted for each roughly equally over my life.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Now, let\u2019s get back to real estate investing.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Taxes and Population Change<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Population drives demand for real estate, and a shrinking population poses a&nbsp;<\/span><span data-preserver-spaces=\"true\">major<\/span><span data-preserver-spaces=\"true\">&nbsp;problem for real estate investors. Identifying population shifts, therefore, matters to real estate investors\u2014a lot.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">There\u2019s<\/span><span data-preserver-spaces=\"true\">&nbsp;been a narrative&nbsp;<\/span><span data-preserver-spaces=\"true\">over the last few years<\/span><span data-preserver-spaces=\"true\">&nbsp;that more Americans have started voting with their feet and leaving higher-tax states in favor of lower-tax states.<\/span><span data-preserver-spaces=\"true\">&nbsp;Is&nbsp;<\/span><span data-preserver-spaces=\"true\">it<\/span><span data-preserver-spaces=\"true\">&nbsp;true?<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">I started by pulling raw data from the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.census.gov\/newsroom\/press-kits\/2023\/national-state-population-estimates.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Census Bureau<\/span><\/a><span data-preserver-spaces=\"true\">. I then mapped population change for all 50 states:<\/span><\/p>\n\n\n<p><iframe title=\"Population Change 2022-2023\" aria-label=\"Map\" id=\"datawrapper-chart-su9WZ\" src=\"https:\/\/datawrapper.dwcdn.net\/su9WZ\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"597\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Investment analyst Ben Reynolds of&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.suredividend.com\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">SureDividend.com<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;pointed out to BiggerPockets a few much-discussed examples: \u201cTexas and Florida are two of the fastest-growing states by population. Not coincidentally, they offer a compelling mix of no state income tax and less cold climates&nbsp;<\/span><span data-preserver-spaces=\"true\">compared to<\/span><span data-preserver-spaces=\"true\">&nbsp;most other states.\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">That raises the question of comparing&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/new-census-data-shows-where-americans-are-moving\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">population change<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;to state taxes. Fortunately, that data is also readily available.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Tax Burden by State<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Every year, WalletHub ranks every state by its total tax burden, which includes&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/states-with-no-income-tax\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">state income taxes<\/span><\/a><span data-preserver-spaces=\"true\">, property taxes, and sales and excise taxes.&nbsp;<\/span><\/p>\n\n\n<p><iframe title=\"Total Tax Burden By State\" aria-label=\"Map\" id=\"datawrapper-chart-Jn4US\" src=\"https:\/\/datawrapper.dwcdn.net\/Jn4US\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"547\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Surprising<\/span><span data-preserver-spaces=\"true\">&nbsp;no one, New York took the top spot with the highest tax burden (12.02% of income for the average resident). New York also lost nearly 102,000 residents last year.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">That\u2019s just one state, of course. Let\u2019s look at states with a population loss last year:&nbsp;<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">California<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Hawaii<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Illinois<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Louisiana<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">New York<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Oregon<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Pennsylvania<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">West Virginia<\/span><\/li>\n<\/ul>\n\n\n\n<p><span data-preserver-spaces=\"true\">How did they rank on tax burden?<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The average tax burden ranking for these states is 14.&nbsp;<\/span><span data-preserver-spaces=\"true\">In fact,<\/span><span data-preserver-spaces=\"true\">&nbsp;only one of these states&nbsp;<\/span><span data-preserver-spaces=\"true\">was ranked<\/span><span data-preserver-spaces=\"true\">&nbsp;above the median of 25, and then just barely: Louisiana has a tax rank&nbsp;<\/span><span data-preserver-spaces=\"true\">of<\/span><span data-preserver-spaces=\"true\">&nbsp;27.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">So yes, there is a clear correlation between tax burden and population change. And yes, I also hear all you skeptics&nbsp;<\/span><span data-preserver-spaces=\"true\">out there<\/span><span data-preserver-spaces=\"true\">&nbsp;objecting that \u201ccorrelation does not indicate causation.\u201d Go ahead and cling to that if it helps reinforce your existing worldview that taxes&nbsp;<\/span><span data-preserver-spaces=\"true\">play no role in<\/span><span data-preserver-spaces=\"true\">&nbsp;people\u2019s decisions about where to live.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">I\u2019m not saying taxes are the only or even the most&nbsp;<\/span><span data-preserver-spaces=\"true\">important<\/span><span data-preserver-spaces=\"true\">&nbsp;factor in where Americans move. Surveys about&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/homebay.com\/moving-trends-2024\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">moving trends<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;list many stated reasons for moving. But taxes&nbsp;<\/span><span data-preserver-spaces=\"true\">appear to<\/span><span data-preserver-spaces=\"true\">&nbsp;play a role in the calculations\u2014especially for wealthier Americans.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">\u201c<\/span><span data-preserver-spaces=\"true\">Higher-net worth<\/span><span data-preserver-spaces=\"true\">&nbsp;individuals are most likely to move to states with low or no income tax,\u201d said Alexandra Alvarado of the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.american-apartment-owners-association.org\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">American Apartment Owners Association<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;in a conversation with BiggerPockets. \u201cIt may not be the primary reason they are making the move in the first place, but it does influence which states they are moving to.&nbsp;<\/span><span data-preserver-spaces=\"true\">Also, companies&nbsp;<\/span><span data-preserver-spaces=\"true\">that are<\/span><span data-preserver-spaces=\"true\">&nbsp;moving their headquarters to lower tax states&nbsp;<\/span><span data-preserver-spaces=\"true\">also<\/span><span data-preserver-spaces=\"true\">&nbsp;influence migration patterns, as their employees tend to move with them.\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">And that says nothing of the state and local taxes you pay directly as a property investor\u2014taxes that eat into your returns on investment. While you can\u2019t avoid federal taxes, you can pick and choose the states and cities where you invest\u2014and their respective tax policies.&nbsp;&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Anti-Landlord Regulation<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">People love to hate landlords.&nbsp;<\/span><span data-preserver-spaces=\"true\">I\u2019ve never understood this: The same activists who cry out in righteous fury that there\u2019s not enough affordable rental housing are the&nbsp;<\/span><span data-preserver-spaces=\"true\">very<\/span><span data-preserver-spaces=\"true\">&nbsp;ones who rail against \u201cgreedy\u201d landlords\u2014<\/span><span data-preserver-spaces=\"true\">the people<\/span><span data-preserver-spaces=\"true\">&nbsp;who supply rental housing.<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In some cities and states, these activists have enacted regulations that&nbsp;<\/span><span data-preserver-spaces=\"true\">heavily<\/span><span data-preserver-spaces=\"true\">&nbsp;favor renters over landlords.&nbsp;<\/span><span data-preserver-spaces=\"true\">Back when<\/span><span data-preserver-spaces=\"true\">&nbsp;I used to buy properties directly, I operated in&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/baltimore-sells-abandoned-homes-for-one-dollar\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Baltimore<\/span><\/a><span data-preserver-spaces=\"true\">, one of the most tenant-friendly jurisdictions in the country. It&nbsp;<\/span><span data-preserver-spaces=\"true\">once<\/span><span data-preserver-spaces=\"true\">&nbsp;took me 11 months to get a nonpaying \u201cprofessional tenant\u201d out of my rental property.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In our group real estate investing club at SparkRental, we focus first and foremost on managing risk. Every month&nbsp;<\/span><span data-preserver-spaces=\"true\">when<\/span><span data-preserver-spaces=\"true\">&nbsp;we get together to vet a new investment, we look at risks like debt, construction, property management, and regulation.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Regulatory risk matters. If it takes two months to remove a nonpaying tenant in one market and&nbsp;<\/span><span data-preserver-spaces=\"true\">10<\/span><span data-preserver-spaces=\"true\">&nbsp;months in another, it adds risk and cost to invest in the tenant-friendly market.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Look no further than the pandemic-era&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/how-to-protect-against-eviction-moratoriums\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">eviction moratoriums<\/span><\/a><span data-preserver-spaces=\"true\">. Tenant-friendly markets extended moratoriums long after the federal moratorium expired, making lease contracts one-way enforceable for years. Many renters lived for free for several years, letting their landlord pay the mortgage and maintain their home while they milked every moment of free rent.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">And now that the precedent has&nbsp;<\/span><span data-preserver-spaces=\"true\">been set<\/span><span data-preserver-spaces=\"true\">, these jurisdictions can play the same card again the next time a \u201ccrisis\u201d arrives.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Therefore, anti-landlord regulation adds risk to your investment<\/span><span data-preserver-spaces=\"true\">. Hard<\/span><span data-preserver-spaces=\"true\">&nbsp;stop.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Do I Shun These Cities and States?<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">I\u2019m no political crusader.&nbsp;<\/span><span data-preserver-spaces=\"true\">I\u2019ve invested in markets with high taxes and tenant-friendly regulations<\/span><span data-preserver-spaces=\"true\">. But<\/span><span data-preserver-spaces=\"true\">&nbsp;I\u2019m more cautious&nbsp;<\/span><span data-preserver-spaces=\"true\">when I do<\/span><span data-preserver-spaces=\"true\">&nbsp;so because it adds expense and risk.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In particular, I&nbsp;<\/span><span data-preserver-spaces=\"true\">try to<\/span><span data-preserver-spaces=\"true\">&nbsp;avoid&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/finding-multifamily-properties\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">multifamily<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;investments in areas with anti-landlord regulations.<\/span><span data-preserver-spaces=\"true\">&nbsp;That doesn\u2019t mean I avoid all real estate investments there, however.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Take Southern California. Our passive real estate investing club got together a few months back to vet a property with 11 short-term rental cabins&nbsp;<\/span><span data-preserver-spaces=\"true\">on it<\/span><span data-preserver-spaces=\"true\">. The cabins were in an unincorporated mountain town 90 minutes outside of LA, which relies on tourism to survive. We felt extremely confident that there was no risk of&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/guides\/the-ultimate-guide-to-short-term-rental-properties\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">short-term rentals<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;<\/span><span data-preserver-spaces=\"true\">being outlawed<\/span><span data-preserver-spaces=\"true\">, and the cabins don\u2019t allow long-term stays.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Yes, California has tenant-friendly laws. But they don\u2019t affect that property, and we felt comfortable making that investment together.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Likewise, we consider industrial, retail, and storage properties in areas with anti-landlord regulations. We even consider mobile home parks with tenant-owned homes in these markets.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Final Thoughts<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">But if&nbsp;<\/span><span data-preserver-spaces=\"true\">I\u2019m going to<\/span><span data-preserver-spaces=\"true\">&nbsp;invest in a multifamily property in a high-tax, anti-landlord jurisdiction, I expect the deal to make up for it elsewhere with lower risk than usual.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">You invest&nbsp;however you like with your money. But when you&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/what-are-investors-ignoring\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">evaluate risk<\/span><\/a><span data-preserver-spaces=\"true\">, ignore these factors at your&nbsp;money\u2019s&nbsp;peril.<\/span><\/p>\n\n\n\n    \n  <div id=\"visibility-group-block_c9afe095c7048303a91ecf72d9cd7da9\" class=\"visibility-group alignwide  hidden\">\n        \n\n<div id=\"hero-block_aefed27b431d6fa6db80ae2c650a5370\" class=\"first:mt-0 hero-block py-4  alignwide   has-background has-slate-200-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\"gap-10 lg:gap-20 flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 lg:w-1\/2 \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Find the Right Agent, Close the Best Deal<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:18px\">Step #1: Use Agent Finder to match with top <em><strong>investor-friendly<\/strong><\/em> real estate agents to help you find, analyze, and close your next deal.<\/p>\n\n\n\n<div id=button-custom-event-block_d587cfb9e390ddcc4f711c8567c9d2a3 class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/agent\/match\" x-on:click=\"window.analytics.track(&#039;Blog Block | B2C Marketplace Agent Finder&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/how-politics-is-making-these-states-and-cities-uninvestable&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Find an Agent<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\"lg:w-1\/2 first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/08\/Marketplace-Blog-Blocks-Agent-v3.png\" alt=\"investor friendly real estate agent\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>\n\n  <\/div>\n  \n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n    \n  <div id=\"visibility-group-block_64dd31c79f00f\" class=\"visibility-group  \">\n        \n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div id=\"hero-block_64dd2875dba9d\" class=\"first:mt-0 hero-block py-4    has-background has-slate-100-background-color has-text-color has-theme-slate-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<h3 class=\"wp-block-heading my-0 tracking-tight font-extrabold has-theme-slate-dark-color has-text-color has-large-font-size\">Join the community<\/h3>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-theme-slate-color has-text-color\" style=\"font-size:16px;font-style:normal;font-weight:400\">Ready to succeed in real estate investing? Create a free BiggerPockets account to learn about investment strategies; ask questions and get answers from our community of +2 million members; connect with investor-friendly agents; and so much more. <\/p>\n\n\n\n<div id=button-custom-event-block_64dd2888dba9e class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/signup\" x-on:click=\"window.analytics.track(&#039;Blog Block | Acquisition | Free Membership Signup&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/how-politics-is-making-these-states-and-cities-uninvestable&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Sign Up<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n            <\/div>\n<\/div>\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n  <\/div>\n  <\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Taxes and regulations impact your bottom line as an investor\u2014and not always in direct or&nbsp;obvious&nbsp;ways. Unfortunately, as soon as you start talking about either one, the average person closes their [&hellip;]<\/p>\n","protected":false},"author":158586,"featured_media":171130,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7119,4433,7384],"tags":[],"class_list":["post-171126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-daily","category-opinion","category-politics-policy"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/171126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/158586"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=171126"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/171126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/171130"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=171126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=171126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=171126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}