Hone Microsoft Excel skills by creating 12 tab pro-formas to practice 1% rule underwriting on $100K single family homes. 4.

It depends on your personal situation, risk tolerance, and future goals; and there are legal, tax, and practical implications (banking, financing, insurance, etc.). 

They can also help navigate any IRS regulations related to co-ownership and rental arrangements with family members.Investing in specialized tax advice can help ensure you’re fully compliant and making the most of any available tax benefits.Hope this helps! 

My area of practice in the legal realm is trust formation for businesses and individuals.

A streamlined process for cost segregation studies: AI is able to help streamline the cost segregation reclassifications by analyzing and identifying property components into their appropriate useful life more efficiently than traditional methods.The ability to identify eligible tax credits: AI is able to sort through and analyze a vast amount of tax laws and regulations in order to attempt to identify potential tax credits available to the real estate investor.

Practice regularly so your muscles are strong and fast.

Things to watch out for, especially in terms of regulations, costs, and management?

Have you ever had to convince a city council to change the zoning regulations?  

I mean if you get it, it will allow you to retain your investors.As an alternative, you can take the route others suggested:1) Fund  of funds2) Partner with others on GP side in an investors' management roleKeep in mind, that both options would require you to have a full understanding of the role and the regulations involved. 

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.