If you are audited the IRS will want to see supporting docs (e.g. calendar, CC statements, etc).If you've reached the end of this thread and your NGMI on RE pro there are a few more options:1.

Josh here, an aspiring real estate investor who just found BP a couple weeks ago and am trying to learn the ropes.I find myself where I assume most people start: trying to decide on a niche and a market to support it.

Connecting with local investors, lenders, and contractors will give you valuable insights, support and advice as you move forward, and platforms like this are perfect for bridging the gap when in-person meet-ups aren’t feasible.

As you can imagine, it drastically cuts down on the amount of water use when the tenants have skin in the game.

I arrived at $450K based on working backwards to what loan amount at 80% LTV could be supported based on the rents and DSCR of 1.25.

Ensure it cash flows comfortably.Market & Location: Research local rental demand, property values, and any applicable LTR regulations to understand the area’s potential for long-term success.Future Potential: Consider if the property could appreciate or attract quality tenants over time, supporting stable cash flow and asset growth.This checklist should set you up for a solid LTR investment!

In some cases, if the ARV is outlandish or the change in value is rapid and extreme (ex: purchasing for $100k last month, appraising for $500k thirty days later), it may need to be supported by a CDA or evidence of repairs/upgrades. 

These members attended multiple meetings where we helped and provided support—finding, strategizing, underwriting, and discussing their properties to set them up for success.But it’s important to note that our communication is transparent, and it’s easy to verify our records.

That is reality because the receiver of the info has no skin in the game, nothing to  hold them to the "advice".

The property owner always loses while the arbiter has no skin in the game at all, just skimming profits off of the owner and can walk away any time they want without reprocussions.