Dennis Dixon's "Getting Started in Commercial Real Estate" (2/12) is a good article. I'd like to add two points. First, when preparing your federal taxes, have a discussion with your tax accountant about whether to combine your properties into one entity or keep them separate. There are advantages either way depending on other factors.
Second, become familiar with a regulation known as 469-C, which has to do with your involvement in the day-to-day management of your property. I would advise keeping a daily log. It might be important someday and is tough to put together four years later when they challenge you, especially if your depreciation puts you into a loss. Sign me, been...
to read the full article.