@Colin Ford recommend getting experience with your RI duplex before going OOS.You should DIY manage the unit next door, so you LEARN about property management, the goog, the bad and the ugly.Then you'll be so much better prepared to invest OOS!

Its always nice to be prepared.

Also, there’s much to delve into on of those scenarios, like what type of cashflow or investment do you want, etc. residential, multi-res, small multi-res, commercial, industrial, etc.There seems to be fewer deals around these days and this typically benefits the more experienced and skilled investors but there are always multiple investors that get “tripped-up” in these markets due to them relying on recent “fortunate” market circumstances only to realize the markets cycle and they weren’t prepared or didn’t underwrite properly to account for unforeseen potential.There are more considerations, but this is a start.

Let me know if you plan to make it so I can let the owner know and he can make sure they are properly prepared.

The revenue and expense categories line up with your Schedule E which makes it a breeze to prepare for filing your taxes and I like the reporting features, too.

I’m wanting to be prepared and educated since I’m new to this and looking for advice.

Make sure to prepare a professional proposal, highlight your STR track record, and be transparent with your financial projections.

Let's say you spent a month on the initial preparation: cleaning, painting, shopping for furnishings, assembling IKEA furniture and so on.

Confirm that the IRA LLC provider will prepare all of the documents needed to not only form the LLC (articles of organization, SS-4 to obtain an EIN) but also the documents needed by the trust company to process the investment of IRA funds in the LLC.3.

I purchased and renovated a house with a separate legal mother/daughter apartment that I am preparing to Airbnb here in Central NJ.