Biggest lessons: plan for delays, control scope creep, and get ahead of OZ compliance.

Syndications under Reg D 506 B while allowing for 35 “sophisticated” investors, most prudent sponsors will define sophisticated as someone who is an attorney, accountant, or investment professional.  

I stil think this was the better decision because this property appreciated so much more than if I had invested in another city or out of state where I would have had to put a larger down payment, and not been able to afford as much home.

Out of curiosity, how do you define your mission when it comes to balancing relationships and transactions? 

These are defined by your state.

It’s helped them avoid surprises and tighten up cost estimates before going under contract.It’s definitely possible, it just depends on your budget and the scope of the project!

Willwhat defines a good brrrr market in your mind?   

As you can see, the short-term rental loophole is more limited in scope because it only allows the depreciation/cost seg on that specific property to offset active income.

Yes, you can deduct property taxes on both homes on your joint tax return, but there’s an important updated cap to keep in mind.State and Local Tax (SALT) Deduction Limit — Updated for 2025:The One Big Beautiful Bill Act (OBBBA) increased the SALT deduction cap to $40,000 per year for married filing jointly.This cap includes all state and local income taxes, property taxes, and sales taxes combined.The deduction begins to phase out for households with adjusted gross income (AGI) over $500,000 (married filing jointly).So while you and your spouse can own and occupy different homes, the total SALT deduction across both properties (and any other state/local taxes) is limited to $40,000, assuming your income is below the phaseout threshold.Primary Residence Mortgage Rules:You are eligible to apply for a primary residence mortgage on the new home since you will be living there at least five days per week.The IRS defines a primary residence based on where you spend most of your time, not whether your family lives there.CPA Insights:You can deduct property taxes on both homes, subject to the $40,000 SALT cap.You may treat the new home as your primary residence for mortgage and tax purposes, based on your time spent living there.Review whether itemizing deductions (including property taxes and mortgage interest) provides a greater tax benefit than claiming the standard deduction, especially under current law.This post does not create a CPA-Client relationship.

"The owner said ok to see outside", and out of courtesy, you just wanted to let them know you'll be looking around.Meet them like that and you'll have a better idea of what they are really like.