My biggest goal for this year is just to get into the game of real estate 

So I require skin in the game (average is 5% to 15%) to offset this.

This also leaves me with $3,750 stuck in the deal (not including financing and closing costs, which could easily add another $20,000).In total, if I had to include closing costs and financing costs, I’d have about $23,000 (if not more) tied up in the deal and lose close to $700/month before accounting for expenses.

Local or out of state work if the deal is right. in fact, consider including the numbers for a property manager anyway.

That said, you deserve a management team that treats your properties with the same level of care and attention as they would for larger clientsI’ve heard from other investors that finding a great PM company can be a game-changer.

The amount of downpayment requirement insures buyers having "skin in the game". 

I’m not sure if this is for you, but...If you’re serious about leveling up your real estate game in 2024, there’s no reason not to try this.

was there an agreement between you and your parents that they should share in the profits / losses of the airbnb / property.If there was an agreement, they should also be included in the LLC.It is best to discuss this all with an attorney.Best of luck!

If you can answer these types of questions you will know what is important as you game plan for the next 10 years.

Starting out, single-family was my go-to—easier to manage and a great intro to the game.