And you can be a landlord that gets a very poor return because they haven't utilized their space well by changing the layout.

And yes, the income from renting is still taxable, but ideally you are offsetting a chunk of that with depreciation which is a non-cash expense.You should read Amanda Han and Matt MacFarland's books as well which are available in the BP Bookstore. https://store.biggerpockets.com/products/tax-strategies-book...

@Tristan Kelly hope this goes well for you!

I connected well with him.

I'd love feedback and advice from those of you who are well ahead of me.

I'm a contractor based in Maryland and DC, so the renovation aspect is well within my expertise, having done numerous projects for other developers and general contractors.However, I'm facing a challenge when it comes to choosing the interior design elements, such as bathroom tiles, colors, sizes, fixtures, etc.

This also lets you know how well they did with their own portfolio.5.

If they're cash flowing super well, why sell or take out a HELOC? 

@Kerry Hermann We got our start in the western Chicago suburbs as well but are now totally focussed on The Shoals.

Then, I would share with them how you manage properties and what your expectations are for them as well as you - essentially explaining how you work with people renting from you.