I live in Boston, but I was advised to start my real estate business elsewhere as Boston is very competitive.

For structuring your business, consider whether you actually need an LLC or if umbrella insurance might be a simpler alternative.

A formal business built on this seems overkill as you’re essentially paying someone for a service that already has standard model.If you and the parnter have distinct business tasks/abilities (i.e. not what you would hire an agent or contractor for), such as off-market lead generation, that’s a different discussion.

See responses to your questions below: Correct, California is uniqueTo qualify for REPS you need to meet a number of criteria, including (but STRs that meet IRS criteria generally don't need REPS to leverage tax benefits): More than 50 percent of his/her time working in real property businesses; AND, More than 750 hours of service during the year.

We want to grow our real estate business to be able to quit our jobs.

There are easily 5-6 meetings per week you can go to and learn from people who have been in this business for decades.

He became a contractor, worked hard, and grew a successful business that produced a lot of money.

We hope to hear from you soon and we appreciate your business.

Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee

Most of these course instructors aren't qualified to teach anything but the most elementary real estate concepts and try to make their courses more marketable by teaching concepts they have no business teaching.