My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.

No but keep track of those repairs as it will add to your cost basis when you go to sell it and have to pay capital gains.

if you have lived in the property for 2 out of the least 5 years you will not pay taxes on the gain, so if you want to sell make sure you do it soon enough to take advantage of that tax advantage.  

Make sure this enough gains to make it worth worrying about.

@Fulati Paerhati, sounds good, I sent a connect request with some additional information for you to consider.Look forward to connecting.

The client will be solely responsible for capital gains taxes, including depreciation recapture, regardless of the agreement to share proceeds.

Since Texas is a tax deed state, you gain ownership at auction, but the previous owner has 6 months to 2 years to redeem it by paying your bid plus 25% interest (in year one).

Additionally, I'm hearing at meetups that this could extend to multi-fam under 4 units as well, although I haven't been able to confirm.I work exclusively with smaller investors in the multi family space and would be happy to chat more about it.

We kept and rented our primary residence for three years before selling it (and we didn't have to pay capital gains taxes).Thanks!

At this time the primary goal is passive income and then scale within 5 years as I gain more experience and network.