Hi Everyone, For a Long Distance out of state investor where would you recommend looking for an accountant . The state you are investing in or the state you live in?

@Dave KapsackYour first focus should be finding a CPA who specializes in real estate taxation. There are many unique tax laws/strategies when it involves real estate(Depreciation, 1031, cost seg, etc).There are some states that have very complex state tax laws(CA and NY come to mind) so if you live/invest in one of those two states, you should try to find a CPA in those states or atleast someone who is knowledgeable in those areas.If you do invest in a state other than the state you live in, you may be required to file a non-resident state tax return. make sure to work with a CPA who understands multi-state taxation.

@ Bill Hampton That's fantastic, thank you.

Thank you @ Basit Siddiqi very informative.

Dave, Are you open to working with your accountant remotely? I recommend finding an accountant who specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options. I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year. Good luck and let me know if you have any questions.

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