. 🎉 I’m still finalizing things with my lender, but before I move forward, I want to be 100% sure I’m covering all the key steps.Here’s the checklist I’ve put together so far:Home inspection – to catch any hidden issues.Appraisal – to confirm the property’s value matches the offer.Financing contingency – securing my loan approval without surprises.Title search – ensuring there are no liens or legal issues.Seller disclosures – reviewing any known problems upfront.Neighborhood research – making sure the area fits my investment goals.Are there any crucial steps I’m missing or anything you think I should focus on more?

And if you take them out for lunch or drinks to discuss their property, you can deduct those meals as business expenses too.If you have children and currently give them allowances, you could also consider employing them through the property management company.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

Anything else that you do differently that I'm missing?

Some townhomes are like $250,000 and rent is still $2000+.Where I’m from, a $400,000 house would probably rent for about $2000 so I was pleasantly surprised to see how much more rent you can get per dollar, is this pretty standard or am I missing something about Freeport?

Hello and thank you for this reply - yes, I have been analyzing a few properties - I have found that the main issue for both the traditional long term rental and also short term rental in this area is reliable property management - it is traditionally a cottage country tourist area, but it is becoming more popular for long term residency, and there is an emerging missing middle, because of property prices.

@Ashlee Castro so much missing info!

The missing element/data point here is the market rents in the area and how your units compare to the market.

John said  "not your friend" I for one have turn many buyers and sellers into some of our best friends, dinners and drinks, Super Bowl party, and even a vacation together.  

The late filing penalties are around $200 per Month per Member/Partner if you miss the filing date.