I’m also an investor myself so I know the ins and outs from both sides of the table.Since I know intros are more useful when they actually help, here are 3 tax deductions I see real estate investors miss all the time:Home office deduction – If you manage your rentals from home, part of your housing costs may be deductible.Start-up costs – Expenses you had before your property was even “in service” (like inspections, travel, legal fees) can often be written off.Cost segregation + bonus depreciation – Breaking out components of a property (appliances, flooring, furniture) lets you accelerate write-offs, often front-loading tens of thousands in deductions.I joined BiggerPockets to connect, keep learning, and share insights like this.

Defining rip or dip isn't necessarily historical but also relative.

@William Thompson This bill is truly a game-changer, and I’ve got a few thoughts on it:The ability to fully expense components in cost segregation studies (instead of just 40%) means more predictable year-one tax savings.

.- Property available during defined business hours for nonexclusive use by various customers.- Property used in an activity conducted by a partnership, S corporation, or joint venture in which the taxpayer holds an interest.

For most people, it’s cleaner to use the $500K exclusion, pay tax on the rest, and then look at reinvesting into rentals or other assets that generate new depreciation.Pros of using a DST for your situation:- Potential to defer 100% of the gain above $500K- Diversify into passive investments through the trust- Create a structured income stream- May allow estate planning advantages if structured properlyCons:- You lose direct control of the funds- Ongoing trustee and legal fees ($10K to $15K setup plus annual 1 to 1.5% management)- IRS scrutiny risk, DSTs aren’t directly defined in the Code; they rely on private letter rulings and case law- Complexity: You must close through a third-party trustee before receiving funds- Hard to partially use DST and retain liquidity, usually an all-or-some approach....This post does not create a CPA-client relationship.

What kind of things should we define in there?

Go to suppliers and price components.

Ensure contracts define responsibilities and protect the buyer.

One component of our communication consists of monthly news updates on the portfolio and individual site performance, which are uploaded to our investor portal, including monthly reporting of financials and individual facility performance.

Since you’re starting out with partners, I’d focus first on clearly defining your investment criteria and roles within the group.