I called a lawyer but they didn't even know as it was too specific of a situation.Want to avoid putting myself in a bad spot and make sure I handle ESAs well in the future.

For me it’s been a blessing and money well spent.

Hi Ella, welcome aboard,Your post about your real estate ambitions, encompassing the purchase, renovation, and sale of properties, as well as the ownership of Airbnb rentals, is indeed an exciting endeavor.

It’s my first deal so I was kind of worried about it, but I feel more confident now about how to move forward with this property, as well as any future properties. 

As well as coffee shops like Bottoms Up Coffee are moving in and small microbreweries like brew dog and Land Grant. 

In Ohio you can find a lot of single family in the $100-200k range or 2-4 units in the $150-400k range that do pretty well cash flow.

My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects. 

My wife and I thought we had an easy opportunity for a double (baseball analogy) with a flip home in Lakeland, TN we were able to get well below market this past summer.

For that amount, you might as well have purchased an extra smaller house.

Another option is to look into some funds as well that allow smaller investments. some are anywhere from 500-$10,000 minimums and accept non accredited investors (through regulation a+).If you ran numbers of a loan paying p&i at 10% but ot being able to reinvest the principal payments you realize how low your returns actually are. so yes notes are great but also understand that idle money for any investment is not fun.