Recommendations needed: RE attorney + CPA in SF Bay Area (flips, BRRRR, rentals)

Real Estate Agent · San Jose, CA · Member since 2023 · 182 posts · 104 votes

2mo

Hey Gaya, highly recommend @Sean O'Keefe. He is my CPA for LTR, STR, flips, and other real estate businesses. Let me know if you like me to make an introduction!

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Sarah Hadassah Negrón

Member since 2025 · 13 posts · 23 votes

2mo

Hi Gaya! I've also worked with @Sean O'Keefe and highly recommend his CPA services. He prepared my tax return after I sold an inherited out-of-state property, and he was extremely knowledgeable about the tax implications. He patiently explained concepts clearly, answered my questions, and discussed real estate tax strategies that fit my long-term investing goals. I never felt rushed, and I appreciated how transparent and educational the entire process was. I'll definitely be working with him again.

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Sean O'KeefePro Member

CPA | Accepting new clients | 50 States · Member since 2022 · 1k+ posts · 871 votes

2mo

Quote from @Gaya Sandeep:

Looking for recommendations in the SF Bay Area: a real estate attorney and a CPA who both have solid real estate investing experience.

For the attorney: experience with multi-member LLC structures, partnership operating agreements, and fix-and-flip specific terms. Starting a flip partnership with a GC and want the entity structure, capital contributions, and profit-split terms set up correctly from day one. Bonus points if they've dealt with a contractor-as-equity-partner arrangement before.

For the CPA: someone who genuinely knows real estate across strategies — flip tax treatment (COGS etc.), BRRRR mechanics (depreciation, cost segregation, cash-out refi basis implications), and rental property tax (1031s, passive activity rules). We already have a rental portfolio and are adding flips/BRRRR, so ideally someone comfortable with multi-entity structures across all three.

Would appreciate any names you've personally used and trust — DMs welcome.

Thanks!

Hey @Gaya Sandeep,

A couple of things worth flagging before you go too deep into vetting candidates:

CA-specific LLC nuances that make this trickier than it looks:

California charges every LLC (even single-member, even ones just holding a membership interest in another LLC) an $800 minimum franchise tax annually, plus a gross receipts fee that scales up with revenue. If you're structuring a flip partnership with multiple entities (e.g., a holding LLC + deal-specific LLCs), that $800 stacks per entity, which changes the math on whether a multi-entity structure is worth it for smaller deals.
CA doesn't recognize Series LLCs, so if anyone suggests that structure to save on the per-entity franchise tax, it won't hold up here you'd need to register each series separately anyway.
If you form your LLC out of state (some people do this thinking it avoids CA fees), CA will still consider you "doing business" here and require you to register as a foreign LLC and pay the same $800 + fees, so there's no real workaround.
Contractor-as-equity-partner arrangements can also trip CA-specific issues around contractor licensing law (B&P Code) and mechanic's lien waivers, which interact with how the operating agreement is drafted.

Given all that, I'd push hard for a CPA (and attorney) who specifically works with CA real estate investors; someone who does this in, say, NH or FL may give you advice that's technically sound in general but wrong for California's rules.

One other thing worth knowing that BiggerPockets' Terms & Conditions strictly prohibit CPAs (and other pros) from DMing users to solicit their services. So even though you asked for DMs, professionals who'd otherwise want to reach out are barred from doing so unsolicited. That's likely part of why a post like this may get fewer direct responses than you'd expect most CPAs/attorneys on here can only respond if you DM them first, or if they respond in-thread without pitching.

@Sarah Hadassah Negrón and @Wilson Lau thanks for the recommendation :)

This post does not create a CPA-client relationship. The information contained in this post is not to be relied upon. Readers are advised to seek professional advice.

[email protected]628-241-0888

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Ashish AcharyaBusiness Member

CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes

2mo

The tax piece here depends a lot on how you set up the entities once you add flips and BRRRR into the mix. Flip income is treated as ordinary income and typically triggers self employment tax if you're doing enough volume to be considered a dealer, so those need to sit in an S corp or a structure that limits SE tax exposure rather than sitting in your rental LLCs. BRRRR properties get more favorable treatment since they're held for rental use, meaning you can use cost segregation and bonus depreciation to accelerate deductions, and the cash out refi itself isn't a taxable event as long as the property stays a rental.

Mixing flip activity into the same entity as your long term rentals is one of the more common mistakes, since it can taint the rental portfolio's ability to use passive losses and complicates depreciation recapture calculations down the line if you ever want to 1031 out of a rental. With a rental portfolio, flips, and BRRRR all running at once, a holding company structure with separate operating entities underneath usually makes the most sense so each activity's tax treatment stays clean.

Worth having a CPA map this out with you before the flip partnership closes anything, since fixing entity structure after the fact is a lot more expensive than doing it right from day one. BiggerPockets is actually a good place to find a CPA too, most of the real estate focused ones work virtually so you're not limited to the Bay Area specifically.
Happy to connect!

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Fulton Abraham Sanchez

CPA| New Clients Welcome| 50 States · Member since 2016 · 440 posts · 94 votes

2mo

@Gaya Sandeep, hi. You are right to assemble both advisers before the first deal.

For the CPA, ask how flips are tracked as inventory, how shared costs are allocated across entities, and how BRRRR, refinancing, depreciation, passive losses, and 1031 exchanges are coordinated. A strong candidate should be comfortable working with your attorney and reviewing the structure before money starts moving.

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Gaya Sandeep

OP

San Francisco, CA · Member since 2019 · 4 posts · 4 votes

2mo

Thank you all for the incredibly helpful responses — this thread gave us way more than I expected. Between the dealer-status/entity structuring points, cost segregation and the CA-specific franchise tax and contractor-licensing nuances, I've got much clearer picture of how to set this up properly.
Reaching out to a couple of you directly to go deeper.

Really appreciate the community here!

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Basit SiddiqiBusiness Member

Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes

2mo

It looks like you are looking for a CPA with a good understanding of Partnership / Real estate tax experience.

Just a reminder with LLC's is that they are due March 15th of every year as opposed to April 15th. There is an opportunity to extend the return to September 15th.

Furthermore, if you are a CA resident, the LLC may potentially be subject to the $800 minimum tax regardless if it has rentals / flips in California.

[email protected]917-280-8544

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Recommendations needed: RE attorney + CPA in SF Bay Area (flips, BRRRR, rentals)

Recommendations needed: RE attorney + CPA in SF Bay Area (flips, BRRRR, rentals)

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