Most places in Ohio can be profitable rentals... if you can stomach those property taxes!

I am starting my first househacking deal this year and I will Segway that into my second deal by end of 2025.
I would love to hear all you experts and pros with experience to tell your story. If you are in the Seattle...

Fail to produce K-1s in time for LP tax returns to completed on time, refuse to communicate with LPs, when LPs start to express frustration.Cheryl Cheryl, I'm sorry to hear this.Many investors learn expensive lessons with their early investments.Knowing nothing about this deal (because I didn't invest) I can already tell you the 24% projected return was a major red flag (in my opinion).

If you were able to increase the value of the property significantly after the rehab, then you could bring the deal to a community bank  to refinance and take the hard money lender out.You keep all the equity and don’t have to file a partnership return for your annual tax return, which can be costly.  

Note that I live in the Netherlands, which has many tax laws.thank you 

To save my fingers from typing the same thing over and over, I wrote a blog on BP with my tips and tricks.

If you think ahead, you can minimize recapture with the right tax planning.So what is recapture?

Be sure to hold a hefty reserve to handle on-going maintenance, capex, taxes, and insurance.

Any tips, warnings, or real-life lessons are welcome! 

Taxes/Insurance- depends a lot on where you are located.The homes themselves- POH or TOH?