This gets people burned too many times by getting comps from a wholesaler, believing the comps, and then trying to sell it at that outprice that the wholesaler/bad agent gave is a huge miscalculation.

This equity capture can increase your net worth big time.

Quote from @Eyal Goren: First time investing in Cleveland. 

Stop investing time in workshop, and actually go out and look and work for deals.

I stumbled upon Deal Machine as a tool to aid in the process.

While gifts exceeding $18K per year (2024) require filing Form 709, they don't create an immediate tax, but the IRS may scrutinize this as tax avoidance.Tax-Saving Alternatives:Prorated Section 121 Exclusion – If you lived in the home part-time, you may qualify for partial tax exemption.1031 Exchange – If your share was an investment property, reinvesting the proceeds defers capital gains.Installment Sale – Spreading payments over time may reduce your tax bracket.Adjusted Basis Review – Factor in capital improvements and selling costs to lower taxable gains.This post does not create a CPA-Client relationship.

I like to have 1-2 virtual assistants to handle tasks that I don't want to spend time on.

Though, this process will be the same for the other state (if you created a CA LLC you may need to register it as a foreign LLC in the state in which you are doing business/holding property).

The trade off course for STR route is more management/cleaning of guests coming and going/risk of no bookings vs not needing to deal with long term renters months at a time if that once they move in.

In any case, it's a waste of you time to think about that before you find a property.