This is a good thing if you want to do some rehab, but again, you must be very strategic about how much money you put into a place, knowing it won't naturally appreciate beyond what you create in improvements.4) We're having a bit of a zoning crisis.

So creating all these funky financials is great, but if you are using those in a presentation that information should be in the PPM or an official document as if someone is making a decision based on that - it can come back to bite them.

Quote from @Zachary Deal: One thing to keep in mind if you are doing this is that you are likely to create "functional obsolescence" which could mean you are not able to get a new loan against your property and it can be difficult to resell as well. 

Goal setting is not something you should wait until the end of each year to do, but if you have been busy and maybe haven't been able to get around to either brushing off your old goals, validating your existing goals, or creating your new goals, now is the time to do it for 2025. 

I am creating an llc with a couple friends as we go into this new endeavor.

Imagine someone harassing your girlfriend, damaging your property, using or selling illicit drugs, dog biting you or your other tenants and creating a flea or noise issue, or any number of other potential issues.

That’s just the truth but all isn’t lost:- Created actionable steps, Created a system that can actually produce the desired outcome.

Travis, forming an LLC is smart for liability protection and creating a professional structure for your investments.

Please discuss this special allegation with your Tax advisors.This post does not create a CPA-Client relationship.

First, should I create an LLC and purchase the property through that?