These can make a huge difference in how much of your rental income and even your W-2 or business income you can offset with property losses and deductions while house hacking your duplex.Good luck, and if you’d like to chat about how to set this up for maximum tax efficiency, we’d be happy to connect.This post does not create a CPA-client relationship.

I would recommend keeping track of receipts paid for improvements and renovations.

And I dont put my name on it unless I put in the time and energy required to provide the most thorough and accurate estimate and scope possible, which includes an accounting for all potential problems and challenges not visable.

But single-family homes can still compete if land value is low or outdoor improvements are high.Bottom line — it’s not “condo vs. home,” it’s after-tax cash flow vs. headaches.

Hey @Saurabh Kukreja, we use QuickBooks Online for all of our Clients (REIs) and I use it for my personal businesses/rentals as well.We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.

Great for comparing how efficiently your cash is working across deals.DSCR = NOI ÷ Debt Service (Annual Loan Payments)This is your lender’s lens.

Minimum total price for a smaller, yet still “efficient” property would be in the $1,500,000 + range in the less expensive states.

Royalties are tied to energy production and commodity prices.

Interest deduction rules improved.

You’re spot on, sharing your vision with people who haven’t walked the path can drain the energy, excitement, and momentum fast.