Make sure you do the things to get prepared to make it all work.

Due to the age of properties here in New England this is always a risk if you aren't prepared to deal with the work or expense. 

I specialize in investments in Scranton, PA and am more than happy to help in any way. 

Did you have to incorporate a special tenant screening process?

I'm looking for recommendations on:- Experienced attorneys or firms that specialize in forming LLCs and trusts in Wyoming and Illinois.- Insights on the best practices for structuring these entities for optimal asset protection and tax efficiency.- Any potential pitfalls to watch out for during this process.If anyone has navigated a similar setup or has referrals to professionals who can help, I would be extremely grateful for your input!

A foreclosure takes 7 years to go away too.I have a contact that specializes in mid term rentals so feel free to connect offline if you need that expertise. short term rentals option may work too.good luck and wish you all the best on getting a decent outcome for such a difficult situation. 

Proof of Services.Be prepared to provide proof of the services performed and hours worked, especially if the IRS requests this information during an audit.6.

Figure out where your strengths lie and focus on that.After doing this for two decades, the biggest takeaway is to stay consistent, build relationships, and always be prepared to pivot.

Essentially, how much equity should I be prepared to split with in investor in order to not bring additional cash to the deal?

@Doug Kirk congratulations on preparing yourself to take the first step!