New to Real Estate, just getting started.
I am genuinely just getting started with the whole process, bought a house at end of May, talked to one accountant so far. I currently house hack and am trying to make decisions to set myself up going forward, very early on. He is saying I cant deduct any expenses of any kind essentially from the home, (upkeep, furniture, upgrades) because I live in the home myself. I am in a good position in a sense that I am going to make more from my W-2 as well as my roommate's income to help pay my mortgage, but I am worried about tax time. He emphasized starting up an LLC or something similar, but I don't want to get something started without knowing my direction. I just want to find a way so I am not paying thousands of dollars in taxes. I am trying to make decisions to help me going forward. I intend to set up a separate account to separate business expenses from personal, just didnt know if I should even shop which offers the best benefits for business accounts or sets up for higher LOC or have better reputations.
Any advise or personal experience would be greatly appreciated, sort of feel like I can go in 100s of different directions.