YouTube is also a fantastic resource—it's free and you can learn at your own pace, which is a huge benefit.

And of course we're in agreement on consulting a tax pro.

But I do hope to offer some quality feedback for folks who are learning the industry and working towards success.

I realize I'll need to consult with my attorney and CPA for actually structuring these, but I'm interested to learn from anyone here who's scaled their real estate business from their individual portfolio or flipping business, to bringing in outside capital to grow. 

First pro is you learn how to be a landlord and to manage properties and this is the best way to get started into real estate investing.

The more deals you’re part of, the more you learn about:✅ Structuring deals✅ Managing risk✅ Negotiating with partners✅ Handling financingTaking part of a good deal helps you build real-world experience that will pay off big in the future when you do bigger and better deals.3.

Here are the key numbers:Potential purchase price: Mid-$400k rangeAppraised value: Estimated at ~$500kRehabbed comparable properties (comps): ~$580-600kMonthly PITI (with 5% down, including mortgage insurance): ~$3400First-year PITI (with 2-1 buydown): ~$2900Monthly income (after taxes): ~4-5kLiving expenses (utilities, groceries, etc.): ~$1600Savings available: ~15-20% of the purchase priceCash to close: ~$34kRehab estimate: ~$34kRemaining reserves: ~$20-25kTo fully fund the rehab, I’d need to come up with an additional ~$15k in the short term, which I anticipate paying back quickly once the rental portion is generating income.

I also wonder if some hosts only list during football season and then transition to mid-term rentals (MTRs) the rest of the year.New Tax Changes Coming in January 2025Starting January 2025, Airbnb will automatically collect and remit the 5% tourist tax for Gainesville.

Initially the numbers were 40k for rehab cost Lessons learned?

In many places, daycare costs, commuting, office clothes, taxes, meal prep, all take up a working person's full income when you switch to going back to the office.