I am looking to buy my first investment property and have heard a lot about  Fort WayneAs an out of state investor, I am looking to connect with investors/agents in the area to build further knowledge on specifics with the markets and hopefully bring business to in the future!

Is it advisable to have an account for each property?

House hacking is often promoted as the easiest way to get into real estate—buy a property, rent out part of it, and let tenants cover your mortgage.

That could help manage tax liabilities while keeping the property in the family.

From a financial standpoint, the key is to ensure you're purchasing properties at a price low enough to make rehab costs and refinance achievable.

@Kevin Duke Since Subject A’s $6M net worth is below the federal estate tax exemption ($13.61M in 2024) and Florida has no estate or inheritance tax, Subject B can inherit the property tax-free with a step-up in basis to the fair market value at the time of death, eliminating capital gains tax if sold immediately.To avoid probate, Subject A can use a Lady Bird Deed (Enhanced Life Estate Deed) or a Transfer on Death (TOD) Deed, which allows automatic transfer to Subject B while retaining full control during their lifetime.

Once they have seen the property and are interested, the prequalification and background checks will do the rest of the work in weeding out undesirable tenants for you. 

The property is worth exactly what it is with zero STR rental income.

The other contributing factor was the poor property management and sponsor asset management of the properties.

I've built relationships with property managers who have distressed properties in their portfolios that can communicate directly to owners.