Keep an eye on your debt-to-income ratio and overall leverage to avoid overextending.

This is because losses in a Partnership LLC are generally considered passive or non-passive depending on your involvement, and the structure of the LLC can provide more flexibility in how losses are handled."

With the cash flow number and the potential equity gain every year you can calculate your estimated return on equity - my hunch is that with $500k in equity it will not be great return.Another thing to keep in mind is that if you have lived in the current house for at least 2 of the last 5 years and it has appreciated a lot while you have owned it then you can sell with little to no capital gains (there is a limit that you may be pushing with that much equity).For those reasons I would probably consider options that involve selling.

Unless you come from a corporate job that is involved in this field, it is not a place I recommend to start.

Time Savings: Managing properties can be time-consuming, involving tasks like tenant screening, maintenance coordination, and rent collection.

Using Airbnb isn't going overboard =) It really comes down to how much you need the income, and hence how important it is you get eyes on your listing so you actually get bookings.

Here's the bottom line- I know that there are opportunities that do not involve fix and flip that you may be able to bring to an investor who will then decide to invest with you based on the numbers.  

I’m planning to take my broker’s exam in the near future to expand my skill set and deepen my involvement in this space.I’d be thrilled to discuss the current state of the market, challenges, and opportunities, and to exchange ideas with others.

This quotes is only to remediate the mold it does not involve fixing the drywall afterwards.We are trying to get more quotes but unfortunately we live in Stillwater, Ok ( a small town) so most of the professionals have to travel about an hr. to get to us.Attached is the $11K quote – it seems inflated to me.

Quote from @Herrison Sitorus: Hi all,Recently got involved managing a rent stabilized property.