If you don’t have a clear understanding of your cash flow, operating costs, and future expenses, you could be setting yourself up for financial stress down the road.The Power of Financial ClarityYou can’t make smart decisions without knowing the full picture of your finances.

Because of the high operation costs we never add electric baseboard heat. 

Before committing, I’d highly recommend researching demand in your target area and connecting with operators who already run similar rentals there.A tiny home or glamping concept could be a huge hit in a market where it’s fresh and unique, but in areas where it’s been done before, you’ll need to bring something innovative to stand out.

Must have Articles of Organization, EIN Letter, Operating Agreement. 3.

Additionally, the rental arbitrage strategy is not investing, its operating a business.... an extremely risky business.

I need to better understand all impacts each option has for a smaller operation.

If you have limited prior experience owning / operating multifamily assets, they'll also require you to use a professional property manager with multifamily experience.

For your example, making the basement fully operational as a livable space seems like a great value add.

Benefits of the ATI ExemptionThe ATI exemption offers several key benefits:Reduced Tax Burden: By lowering the assessed value, property owners can significantly reduce their property tax bills, freeing up resources for other investments or operational expenses.Encourages Investment: For real estate investors, the exemption makes South Carolina a more attractive market by reducing the tax impact of property acquisitions.Substantial Tax Savings: The reduction in taxable value can lead to considerable property tax savings over time.Multi-Year Benefit: The exemption can apply for up to five years after the sale (based on SC revaluation cycles).Wide Applicability: It’s available for various types of properties, including multi-family projects, commercial properties, and even vacant land for development.Who is Eligible for the ATI Exemption?

And there are some great multifamily operators out there and then there are others.