Plus, it simplifies the process of adding partners for future projects and helps keep your finances organized.As for BRRR, you can also deduct expenses and LLC income is reported on the owner's personal tax return, avoiding double taxation that corporations face.

If you are good at managing a budget I think this is fine.I agree, especially somewhere that is barely habitable those other 6 months, which describes the UP of Michigan quite well.

There's a very good chance the issue(s) you face have already been discussed and answered.Ask questions in the appropriate forum.

MTR advertising is still dominated by furnishedfinder.com, and this is a cheap, but bare bones, experience for both landlord and tenant.

.- 22% faced rental insurance hikes of 11% or more, and 50% saw property tax increases of over 6%.- Conventional loans remain the top financing option (44%).Give it a full read on our BiggerPockets Blog

Guests were rude to my face, made unreasonable demands to the point that I felt uncomfortable in my own home. 

After 5 years cash flow, even in Vegas barely brought in $600-$800/mo per property.

Hi all, new here at the forum and thank you all for all the knowledge you guys share…its amazing.I am interested in this question as well as we just got back into this from like 10 years ago, few things have changed for us, and the main one is finding deals with whole sellers, sometimes the price looks good, but once we add numbers we are currently seeing that everyone else in the deal makes tons of more money than us….for instance, we have checked properties now, where we pay closing cost, interest on a portion of the borrowed money, commissions after selling the property, etc and we see 30-40k going out on all of this,  then we barely make a 20k profit or less on a property of 200k …many of the deal we found we barely get close to a 10-15% of the initial purchased price, which to me sounds like a lot of hassle and my wife says that i am getting old and too picky :)i keep saying that ideally we should shoot for 15-25% profit from the purchase price…if i get a property at 200k and the rehab is 50 and everyone else makes 30k then we should at least net out 30k as well.

In my market - Suburban PA - everything is already so built up, and barely any raw land.

What problems did you face?