The sponsor is the one driving the ship, the one making decisions, the one who has to communicate, the one who is the bearer of good and bad news!

Therefore, choosing the right investment city is the most critical decision you'll make.Critical factors for an investment city that will enable financial freedom:Cities with a population >1M: Start with cities with a metro population greater than 1M**.** Small towns may rely too much on a single business or market segment.

You trust that you made the right decision.

It is quite complex and heavily manual and opinionative (a lot of decision comes from intuition). 

Consider if it will truly benefit your tax position, liability protection, or asset management, or if it will just add unnecessary paperwork.If you’re in a state like California, keep in mind that you’ll have to pay $800 annually to the Franchise Tax Board, file a periodic Statement of Information (SOI), and submit a Beneficial Ownership Information (BOI) report.It’s a good idea to consult a real estate attorney to ensure you’re making the best decision for your specific needs.

You have to stay on top of them as there are plenty of poor property management companies fewer reputable ones.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Corey- I am thrilled to hear about your decision to invest in real estate.

@Tony Thomas Even though it does not appear there are any meaningful tax advantages, I believe the lesson to be learned here is to focus on making business decisions that are best for the real estate and operation of that real estate.

With their expertise, investors can make more informed decisions about which properties to pursue, helping them assess potential return on investment.