Total cost (purchase + repairs) is 49,000, that is approx 64% of ARV, less than the recommended max of 70%.

I took on the challenge and repaired them both myself.Many people have told me that real estate isn’t worth the hassle, especially when starting out.

We did floors, and multiple interior repairs ourselves while living there.

I will also be tracking expenses related to repairs, maintenance, travel to and from NV, hotel stays, meals, gas, and other regular business costs.In the long term, I aim to purchase additional properties under the business name, but I understand I need to establish at least two years of income and credit history before doing so.The issue I’m encountering is that my accountant has not provided any guidance on how to structure this scenario.

repaired and updated the home.

Are there approved vendors you must use for unit repairs? 

Hey Quentin, Here are my bits of advice:Prioritize Value-Add Opportunities: Focus on properties that require cosmetic updates rather than extensive structural repairs.

Also, our cleaners will report property issues to us through Breezeway and we manage all of the repairs and consumables.  

You will have income (rent), but then you'll have expenses: taxes, insurance, repairs, turnaround cleanup, eviction/attorney costs, vacancy factor etc.

Even without a budget for repairs/etc - let's just define "cashflow" as income left over after PITI & utilities for a moment - Mac Groveland and Highland Park are going to be tough.