It’s essential to evaluate whether the potential rental income aligns with your financial goals and if you can manage the ongoing expenses associated with property ownership.On the other hand, flipping a home could provide a more immediate financial return, especially with your access to a private loan and mentorship from an experienced developer.

You pay 10% for the good times an extra for the headaches.However I know managers essentially become a necessity.

Build a Strong Virtual TeamLocal Boots on the Ground: Having someone local who can handle property inspections, meet sellers, or take photos is essential.

I thought I was getting an amazing deal but what I'm ending up with is; essentially locked into closing on house where everyone expected the current tenant to leave cooperatively however, he is now planning to stay indefinitely without paying rent until getting evicted.

To make an informed decision, consider these essential steps:Seek out a Certified Cost Segregation ProfessionalConsider their experience with tangible property regulations.

Essentially, you'll need to find a way to add value to a syndicators business so that it is worth taking you on as a mentee or employee.

However, thorough research and careful planning are essential.

Check out this link for the upcoming California November ballot --> "Justice for Renters Act" Essentially, they're trying to implement rent control state wide.

It’s still a journey for me, and I’ve realized how essential surrounding yourself with a strong community can be in overcoming these obstacles.Question for everyone: I’m curious, what’s been your biggest challenge in building a strong real estate network?

Although, for your current situation you won't have the time to get your license by the time this deal closes...But, another option that may be possible is if the seller agrees to directly pay you outside of escrow for essentially a finder's fee.