And that is the reason why a LIRP can provide much more retirement income.You don't pay interest on the loans and the death benefit pays off the loans when you die.

Although the list may seem intensive, I look at it like this: The total cost of all these items can be much lower than the cost to repair a hidden surprise after purchasing a property to flip. 

Honest... not great but we had other tax reasons to get into them.   

With down payments, improvements, commissions, title work, holding costs etc....

Pictures, pictures, pictures, especially in morning light.Indoor staging needn't be costly.

Here is an example of what it costs you to avoid professional advice.

I think it just benefits current owners. our replacement cost variability just went up a lot for the next 4 years.

However, in California, each LLC incurs an $800 annual franchise tax plus gross receipts fees if revenue exceeds $250,000, and property insurance may cost more.

Your ability to accurately estimate costs and efficiently manage renovations makes you an extremely valuable partner in any deal.

Focus on areas with strong rental demand, like Broad Ripple, Fountain Square, or near universities like Butler and IUPUI.Maintenance Costs: Indiana weather can be tough on properties, so budget for seasonal maintenance like snow removal and HVAC servicing.Additional AdviceKeep an Emergency Fund: Unexpected repairs or vacancies can arise, so having 3-6 months of expenses saved will help you weather any surprises.Build a Reliable Team: I have lists of contractors, handymen, cleaners and property managers if you'd like me to send.Good luck with your property and future expansion!