I highly recommend that you look into joining NARPM.org for up to date and local education.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

@Brian Scott don't forget to incorporate the tax savings into your calculations too!

I have been reading a lot and educating myself on the REPS scenario for me to use the real state losses in 2024 to offset my 2024 W-2 income.

It’s clear that you’re taking the right steps by educating yourself and connecting with others in forums and groups.Keep leveraging the knowledge you’re gaining, and remember that patience and consistency are key.

Diversify investments, seek mentorship, and invest in education on real estate investing, cash flow management, and property management.

As well as continuing education requirements annually. 

😁 Dan Kryzanowski🧠 Passive Investing in CRE (MF Development, Self Storage) via liquid funds, SDIRA, or Solo 401(k)... as a Texan & Austinite 🤠, I also stay educated on O&G/Energy + Fintech/Proptech🙌 Meet w/ fellow Accredited Investors & Passive (LP) Investors🤝 ... 

You'll also have to educate the seller about this.

Here's a checklist: https://www.sos.state.co.us/pubs/business/helpFiles/LLCCheck...But before you put in the effort, I recommend you educate yourself on what an LLC can do for you, what it can't, and how much it will cost in money, time, and effort.