Hi Radhika-Congratulations on being a homemaker with young kids and looking to do more for the family financially now that the kids are older.You have 50K to get started but are having difficulty choosing markets and deciding where to begin and you are thinking about single-family long-term rentals out of state because you live in California.I would encourage you to start with duplexes, preferably with 2 bedrooms in each unit for tenant longevity, and ideally with separate utilities.

It was carried out through zoom so it was very convenient- The employee that I had a meeting with was really professional and nice.

I'm not a real estate professional in the IRS sense, so if I take money out of my real estate investments as profit, I'm paying ordinary income.

I only rented out 2 out of my 3 rooms because parking ain't the easiest in my hood.5) I rented to professionals (and one PHD student) so that's why I chose the neighborhoods I listed.

We converted a old restaurant on the property to a coworking lounge, redid the pool and built out the roof to a entertainment center with fire pits, lounges, bubble chairs, barbeque, large screen TV, music, yoga mats and amazing views of the ocean and city lights.It is designed for coworking/coliving for business professionals and entrepreneurs who want to...Live where they work.

Travis, forming an LLC is smart for liability protection and creating a professional structure for your investments.

Readers should seek professional advice.

If you had one question for a professional house flipper, what would it be?? 

But you have to be very creative and understand that if you're seeing deals from industry professionals (rather than sourcing them yourself), there's probably not enough meat left on the bone for a good opportunity to create value.Good luck!

An experienced team or partner can also help boost confidence.Providing a combination of a solid commitment letter, proof of funds, and a clear, professional approach signals you’re serious and capable of closing the deal.