Sean Pyles

I'm hoping to spend almost no time maintaining my house because the whole thing is I want to get away from that for a place that's a few hours away from where I'm actually living.

But I want to go more into taxes because that's a concern that I have is that having this new stream of income, even though it's not going to be tremendous, it will basically cover my mortgage and maybe a couple hundred bucks more than that. I'm a little worried that it's going to completely throw my tax situation into a tailspin.

But I want to go more into taxes because that's a concern that I have is that having this new stream of income, even though it's not going to be tremendous, it will basically cover my mortgage and maybe a couple hundred bucks more than that. I'm a little worried that it's going to completely throw my tax situation into a tailspin.

But I want to go more into taxes because that's a concern that I have is that having this new stream of income, even though it's not going to be tremendous, it will basically cover my mortgage and maybe a couple hundred bucks more than that. I'm a little worried that it's going to completely throw my tax situation into a tailspin.

I'll end up owing a bunch of money and I might have to keep even more meticulous records than I already have. How do you manage the taxes on your properties? Because I'm considering hiring a CPA who's a pro in rental properties just to make my life a little easier on this front.

I'll end up owing a bunch of money and I might have to keep even more meticulous records than I already have. How do you manage the taxes on your properties? Because I'm considering hiring a CPA who's a pro in rental properties just to make my life a little easier on this front.

I'll end up owing a bunch of money and I might have to keep even more meticulous records than I already have. How do you manage the taxes on your properties? Because I'm considering hiring a CPA who's a pro in rental properties just to make my life a little easier on this front.

The trade-off there would be that if and when you go to sell the property, if you have been depreciating it, you would have a lower basis and you may not be able to get as much in the sale, correct?

The trade-off there would be that if and when you go to sell the property, if you have been depreciating it, you would have a lower basis and you may not be able to get as much in the sale, correct?

The trade-off there would be that if and when you go to sell the property, if you have been depreciating it, you would have a lower basis and you may not be able to get as much in the sale, correct?

That's the whole point is to not sell. What am I thinking?

That's the whole point is to not sell. What am I thinking?

That's the whole point is to not sell. What am I thinking?

Exactly. Okay.

Exactly. Okay.

Exactly. Okay.

One last big thing I want to talk with you about is that I'm considering starting an LLC, a limited liability company, to manage and own my rental property. Did you go this route and why or why not?

One last big thing I want to talk with you about is that I'm considering starting an LLC, a limited liability company, to manage and own my rental property. Did you go this route and why or why not?

One last big thing I want to talk with you about is that I'm considering starting an LLC, a limited liability company, to manage and own my rental property. Did you go this route and why or why not?

Mm-hmm.