Adam, I agree with all the responses and I would like to add consult a "Real Estate CPA" that has investment properties themselves.

Mike M You might keep an eye on the following areas: Las Vegas, NV, Chicago, IL,Portland, OR, Tacoma, WABoise, IDOcala, FLIndianapolis, INCincinnati, OHSanta Fe, NMI can bet your CPA loves you every year around tax time!

If you don't employ them you don't know what there doing when you need them.2- landlords + 1 in training1- plumber1- electrician1- HVAC1- flooring installer1- cabinet maker3- grass / landscapers2- painters7- trades helpers7- general office staff / go-do-ers2- warehouse workers2- CPA / data entry / computer system upkeep1- wife1- me

They actually make money.I'd strongly recommend finding a CPA who's experienced with rental properties.

I'm seeking out a real estate CPA as we speak and will try to get a few referrals at my investment club meeting this week.

I'm not a tax accountant, but it sure was fun reading this kind of stuff when I took the tax portion of the CPA exam.

That is NOT something a CPA should be doing.

What I found is that involving other professionals, especially attorneys, CPA's, insurance agents and OH(!)

This is not tax advice, not a CPA, clueless.

And will get you to being free an clear on these properties sooner.I strongly recommend a CPA who's knowledgeable about real estate investments, if you're going to be in the business.