Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

I’ve seen folks panic and act like they’re about to be stuck holding a ticking time bomb, but if you structure the contract properly, give yourself a decent inspection or feasibility period, and understand local investor demand, you’ll rarely end up empty-handed.

I feel there is potential for it to be a good MTR if I advertise and take pictures properly.

What strategies or flood mitigation measures worked best for you to ensure long-term profitability?

We represent several developers in Cedar Park, they all developed for owner user + rentals, but I'd say the main thing from a legal perspective is ensuring good GC and sub agreements.

It's a credit score. the best way to build credit is to have credit, use it liberally and use it properly.

There are a ton of qualified broker and lenders out there that can offer this product but be sure to receive the proper education when iyb comes to structuring the deal correctly.

The custodian is who applied to my rental and also the one that came to view the property to ensure it is ok for the tenant.

Ensure utilities are back in your name.

You can - 1) establish a trust for asset protection, 2) utilize the Homestead Exemption for property protection, 3) consider tenancy by the entirety for marital property (this might just be applicable to California, my home state)4) make sure you have adequate liability insurance for additional protection, 5) think about forming a business entity to shield assets, 6) and have proper estate planning for asset distribution.Seek tax and legal advice from experts in your state.