That's when I started researching other methods and ran into the BiggerPockets YouTube channel and binge-watched a lot of videMy primary residence I bought with a VA loan and seller concession and was hoping to do the same for the multi-family property, but it's not looking likely.  

He said it was OK to let the seller choose the title company and that proved to be a disaster.2. 

This is potentially a win-win the seller gets a little cash and you get a property with clean title at a reduced cost.  

My 10-year goal is to own and operate 2-4 short-term rentals in lake-based vacation destinations and provide add-on hospitality services to further my mission and cash flow.

We also aren’t set on doing long, medium, or short term, and would be open to advice about which way will probably be best for our given situation.

Know the elevation, the possibility of a LOMA exemption (flood insurance requirement exemption), the assumability of the seller's flood policy etc.

Recently, we have seen an influx of bidders get loans under agreement and then after a month of due diligence (where it should take about two weeks) come back and try and fade a bid for reasons that make zero sense.I know in traditional real estate people will put an offer and then get an inspection done to try and renegotiate the price.For note investing, buyers should remember it is a very small circle of investors and if this is your MO, then it will not be long before you get blackballed For example, if a loan has a balance of $100,000 and you will pay $80,000 and the seller has a value of $275,000 for the property and your bpo comes in at $260,000 - trying to explain tot he seller you need to fade your bid because there is $160k in equity not $175k is not gonna fly.

Whether you're working with residential properties, or specializing in a niche market, I'm keen to learn about what strategies have worked wonders for you and what tactics may have fallen short of expectations.Some specific points I'd love to discuss include:Where have you found the best leads or prospects?

It may lend you a little privacy, but folks who want to find you will just look up who created the LLC and then find you.That being said, in MO, they are incredibly easy to set up, and are not that expensive to establish (~$50 last I checked, although that may have gone up) and doesn't require any input from an attorney or tax professional (in my state)Personally, I have an LLC bc I pay myself through an S-Corporation as a realtor...the savings come out in the wash, but it allows me to pay taxes quarterly and avoid end of the year surprises.Another reason you may need an LLC is if you are investing with partners, and/or seeking certain loan types ( I know hard money lenders often require an LLC)Once again, this isn't my wheelhouse, so at the end of the day, I would reach out to a tax professional to learn moreLong answer short: in my opinion, you do not need an LLC if your plan only involves renting out your inherited home

We are interested in making use of the STR tax strategy to offset our W2 income this year (work 100+ hours, average rental less than 7 days, no one else worked more than us).But1) Can we only keep it as short-term rental for 2024 collecting minimal STR rents and convert it to LTR in the following year (2025).