I’d search out an established local operator and pay them to operate it.

The next question is whether the property has the zoning to legally operate as a 2 or 3 unit building. 

What strategies or systems have helped you grow from your first project to a scalable operation while managing risks, timelines, and financing?

As mentioned in the podcast, you can carry forward the paper loss, which could offset future rental income or other income once the property is fully operational as a rental.To maximize your benefit, doing the cost segregation study now while bonus depreciation is still at 100% would allow you to accelerate depreciation and take advantage of the full deduction in the year the property is placed in service as a rental.

I ran my own proforma and used an 8% vacancy rate and a 35% operating expense margin, which are the %s that most banks my clients work with use to underwrite their DSCR loans.

Most residential real estate developers have a certain operating expense margin they are budgeting for in order to make sure they are hitting their return requirements.

I've found that members in my area operate like a support team more so than competitors.

Toledo's Lucas County Metropolitan Housing Authority...LMHA which administers the Section 8 program seems to have had a difficult 2016 and 2017 doesn't seem much better.I've been renting to Section 8 for seven years now, I still have my original tenant in fact, and normally I find great satisfaction in renting to good tenants and working with the bureaucracy that comes with a government program...I had 10 properties rented section 8 at one point and have slowly prioritized standard rentals over the program and now am seeing blatant issues with their operations causing me to move away from considering their tenants.Delays in the program: We used to have 5 business day's delay for new-tenant vouchers to be reviewed and processed for inspection but have been going weeks before we hear anything.

Do you recommend an operating business account in which I collect rent from and pay expenses if either STR or LTR entity and if master expense (ie.

Also, many lenders are picky about the operating agreement and structure of the LLCs.