I could go on, I am no CPA but something doesnt seem right here. 

Finding a local CPA is no longer needed or common post-Covid but of course it is your right to seek locally.https://www.biggerpockets.com/forums/51/topics/1222774-expla...If you really insist on local, I recommend finding your local investor group and asking them for recommendations.

—potentially creating tens of thousands in paper losses.Just keep in mind:The losses from your long-term rentals would still be passive unless you qualify as a full REPS.But the STR stands on its own—you can use it to offset W-2 income even if your LTRs are just sitting there building equity.This post does not create a CPA-Client relationship.

Ultimately, talk to your CPA, but all of my house hacked properties I own under my own name or any expenses I had while living there for the other units I deducted without an LLC. 

When done right, this strategy lets them defer taxes while generating steady income in retirement.This post does not create a CPA-Client relationship.

Talk to a GOOD CPA)Finally, of the new place I’ll be your primwry you are worry free and tax free at least until you sell the gifted property, and maybe even then. 

This helps establish intent for investment use.Work with an investor-friendly CPA to:Properly allocate value between personal and rental use.Track basis and depreciation recapture on the original duplex.Evaluate options like partial 1031 or converting the property to primary residence for future Section 121 exclusion.This post does not create a CPA-Client relationship.

Also, be sure to loop in a real estate CPA so you can maximize deductions, handle pass-through taxation correctly, and ensure your setup qualifies for things like bonus depreciation and safe harbor rules.Want help setting this up or choosing the right structure?

LTRs offer stability, while STRs can produce higher returns, but come with more risk and management needs.STR Tax Advantage: If you materially participate (100+ hours and more than anyone else), you can qualify for the STR loophole, allowing bonus depreciation to offset W-2 income, without needing full REPS status.Use Cost Segregation: Ask your CPA about doing a cost seg study to accelerate depreciation, especially if 100% bonus depreciation returns in 2025.Backup Options: If managing real estate feels overwhelming, consider a Delaware Statutory Trust (DST) for a passive 1031 route, or an installment sale to spread the tax burden over time.Meet with your CPA and 1031 intermediary to ensure your reinvestment strategy is tax-optimized and aligns with your comfort level on risk and management.This post does not create a CPA-Client relationship.

Sounds like you're doing a mix of self-managing and managing for others which makes clean tracking even more important I’m a CPA and real estate bookkeeper and I work with investors across the country who are in a similar spotQuickBooks Online is a great option if you set it up the right way We set up our clients' books so that every property has its own class or location That way you can trackIncome by propertyDeductible expenses by property and categoryWhether each property is making or losing money month to monthIt also makes tax time way easier because everything is clean and categorized for your CPAIf you don’t need full accounting software yet and just want simple tracking Stessa can work too though it has some limitations and isn’t as customizableLet me know if you want help figuring out what’s best based on your setup or need help getting the structure right from the start Happy to point you in the right direction