Maintain detailed records to substantiate deductions for materials, labor, and expenses, which can significantly reduce taxable income.While an S-Corp provides tax savings, it also requires payroll management and compliance with formalities, making it essential to stay organized or consult a tax professional for ongoing compliance.This post does not create a CPA-Client relationship.

My strategist explained possible implications could be (1) longer initial vacancy (~60 days), and (2) potential for PM team to not perform well (as there was not yet a proven track record of their work with RTR).After much discussion, we pivoted to a townhouse in Dundee, FL.

The idea is to leverage pre-existing networks in a way that builds instant credibility and gets responses fast.If you want to implement this strategy, here’s a link to the exact resource we used:👉 Spreadsheet Link Here (just make a copy for yourself)I also recorded a short video walking through how we set everything up, but since BiggerPockets has rules against sharing that kind of content, feel free to DM me if you have questions on execution.Anyone else using creative co-living marketing strategies that are working right now?

Contributions for development and remodeling will be capitalized, increasing the property’s basis and reducing taxable gains upon sale, though these costs are not immediately deductible.The LLC Operating Agreement must clearly outline how contributions are recorded and how profits, losses, and expenses will be distributed.

Just curious do you find that accessing county records online through the county clerk website works just as well as going in person?

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

I would not envy investors who participate in this vehicle when the team has not track record of success with it. 

Maintaining a financial track record for your project is facilitated by effective budgeting.3.

I would suggest partnering with another investor with some deals on their track record and/or some money to contribute to the deal.

The videos are recorded and you can go back in the Help section and watch them later.