However, like others have mentioned above, there are actually a few ways to handle this that could make it more tax-efficient than a straight gift or purchase.For example, your parents might think about putting the properties into an LLC and trust.

my recommendation is at a property manager and let them handle it

Quote from @Steve Wilson: I'm getting ready to start investing in the Port Huron market in SE Michigan and had a question about depreciation; I spoke with a CPA who told me that unless I'm a Real Estate Professional, I can only use depreciation to reduce the taxable income from my investment property, whereas Real Estate Professionals can use their real estate income to reduce the taxable income from their W2 job as well.

As a first-time out-of-state investor, self-managing your properties can be challenging, so I recommend starting with a turnkey property to help reduce the burden and connecting with a reliable local handyman/contractor to handle maintenance and repairs for you.

Each one handles guest damage, liability, and income protection a bit differently, so it’s worth grabbing quotes from all three to compare.Not the most exciting task, but sometimes the switch ends up being an upgrade.

Most things are straightforward, but you have flexibility in how you handle things as an owner-occupant.

An appraisal can be worth it if the county’s 45% land allocation seems high, because land isn’t depreciable and an inflated land value reduces your cost-seg benefit.

Japan buy their own debt, reduce US debt.  

Fingers crossed this reduces squatter problems in Fayetteville. 

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