Please let me know the financial implications. 

I am a newbie in this realm and looking forward to learning all I can in this endeavor of becoming financially independent.

@Greg StrunakA good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

It’s such a big leap of trust, and unfortunately, there are agents who don’t always live up to what you need in this process.An out-of-state investment can be daunting, and it’s so important to have someone in your corner who truly understands your financial goals and is committed to building a relationship beyond just getting to the closing table.

If you got diddly-squat for financial capacity, there is a lot of risk of something going bad during operation of the property.

You are an unlicensed financial advisor.  

While many gurus glorify the strategies they’re selling through courses or books, methods like BRRRR aren’t easy and can put you in a tough financial spot if you’re not careful.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

However, I shudder at the popular suggestion to sell some of your investments for tax purposes, often coming from commission-based brokers and financial advisors.

Retain a cash reserve to cover vacancies or downturns, and align with your long-term goals by consulting a financial advisor.