We want to get a few rentals up and running and then (if all works well) begin bringing other friends/investors in to invest with us.

Far more costly to transfer property at a later point than simply purchase in an LLC on day one.

One thing that I screwed up a few times was this - don't do everything the way YOU like it, try and think like everyman....

If you get 1% to get an appointment / follow up call and close on 1 you are winning. 

Quote from @Patricia Steiner: There are several lenders who offer low/no closing cost options for first time homebuyers.

A $107k NOI with a 43% expense ratio is impressive, even with rising costs like taxes, insurance, and utilities.

3) Average income was up 4.5% in 2024.

They were seeking secondary homes for their family that could be rented to help offset costs and didn't require an immediate or transferrable permit.

Turbotax isn't going to educate you so unless you'd like to educate yourself and potentially make some costly pitfalls, then I'd outsource.

I will say that even though you get the boost from VRBO and AirBNB, the first year of operation is usually lean as you build up the rep.Offering a discount on the stay is a way to be more attractive but don't go crazy.