Work with a qualified intermediary and tax advisor to ensure compliance and optimize your strategy.

What’s your exit strategy if the partnership doesn’t perform as expected?

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

I turned to the Diontalk Binder strategy which educates the tenants on the current price of market rents, section 8, etc, and what I could potentially earn if they were to move out ( In this case being 1500 for a 3b 1ba). they then realize this and know paying a $400 increase (36.6% Increase) would be the best option vs moving out, living in cheaper housing, or going to market rent in the area.

I think the real estate professional strategy works if it is your primary source of income.   

Long-term single or small multifamily rental would be our strategy to go. 

If you are out there driving for dollars and getting leads, than that’s definitely the strongest strategy for getting the best deals… it just takes time that not all have.

Instead of buying four $150k houses per year, try to get one $400-600k property (SFH or small multifamily) and get creative with higher effort strategies to cash flow in year 1 and 2. 

Have a clear understanding of your expected cash flow, ROI, and exit strategy.

But a specialist could be helpful if you have unique situations, want to explore advanced strategies, or simply save time.Cost varies - some charge hourly, some a flat fee.I'd recommend checking the tax pro button on top of the page and scheduling a free consultation.