Once you’ve identified STR friendly locations, figure out your financing with your brother to help narrow down your price range and market options.

It's even better if you've done it with land that was purchased at an auction!

Current tenants are coming up 3 years in the house with no plans to move.

Approval and Adjustment: If approved, the exemption reduces the assessed value of the property, thereby lowering the property taxes owed.Let’s break it down with an example:Suppose you purchased an investment property for $1,000,000, but its previous taxable value was $700,000.

With our new house, we have a large mortgage. 

The IRS is concerned with the tax return that is reporting the activity of the property. 

As for holding periods, some lenders may require you to occupy the property for a short time before converting it to a rental (typically 6-12 months), so check the fine print on that.If you’re set on making it an investment property, you may need to work with a lender who specializes in investment properties, even if it means a slightly higher rate.

-AdrianI am quite pleased with my Capital Square DST.

If $100-$120 aligns with similar properties, then it’s a fair rate—especially considering the size of the home and the work involved.

If you are really comfortable with the deal flow, the best way would obviously be to keep flipping / scaling up while gaining equity each time but its a lot harder as you never really know when the next deal may come.