It simplifies your life if tenants are paying through the website too because it’s all direct deposit directly into your account.

Alternatively, forming a new LLC in Kentucky can simplify state-specific compliance and might offer better legal protection for the property.

It can also simplify record-keeping in case of an IRS audit.That said, you can technically pay property-related expenses from your personal account, but separating the accounts will help keep your finances more organized and clearer for both you and your CPA.

Actually, it is to my advantage to simplify, making ownership of my assets easier to file at tax time.  

Assembly Bill 1771, also known as the California Housing Speculation Act, aims to change real estate tax policy to discourage investors from quickly reselling properties like single-family homes.Under the proposed bill, an additional 25% tax would be imposed on the gain from the sale of a qualified asset (including homes) within three years of the previous sale.The tax reduction is dependent on the number of years passed since the initial purchase of the qualified asset, ranging from a 20% reduction for sales occurring between 3.01 to 4 years to a 100% reduction for sales occurring more than seven years after the initial purchase.The revenues generated by this tax increase would be deposited into the Speculation Recapture Community Reinvestment Fund, which aims to support affordable housing, local governments, schools, and infrastructure projects.The bill is introduced by Assembly Member Ward, and the proposed tax changes would take effect from January 1, 2023.Assembly Member Ward argues that short-term investors in the market, including fix and flip investors, contribute to rising housing prices, limiting opportunities for Californians to purchase homes.While the bill may discourage short-term speculative transactions, it is worth noting that California's tax laws still provide certain advantages for investors, including unlimited tax write-offs and depreciation benefits.The bill is subject to legislative approval, and Assembly Member Ward will speak publicly about the bill at the San Diego County Administration Center on a specified date.Please note that this is a simplified summary of the bill and its potential impact on fix and flip investors.

@Mordchai Lunger I will simplify the concept for you even more:Don't think of finding and buying a property "with" an investor/ mentor.Think in terms of finding a propert "for" an investor/mentor.You risk time and legwork.

@Beth Anderson always work backwards to determine a purchase price.ARV minus profit/equity minus Rehab+10-20% minus carrying costs = purchase offerThis is a simplified example, but demonstrates the concept.

As I run my STR mgmt business, I figured I'd simplify and share my company's comprehensive list of daily tasks that we believe deliver the best results:1.

See if you can try and simplify as best as you can. 

The question is probably over simplified but a good starting point for feedback.