That’s half the cost of Prime’s reduced rate.2nd, like everyone is saying, the cost of setting up and LLC is less than $100… closer to $50… if you just do it yourself through the state (not complicated).3rd, if you want someone to help you draft your operating agreement, hire a local real estate attorney and it will be significantly cheaper than $1660… probably cheaper than $550.4th, if you want someone to do your taxes and help you get your max deductions - talk to a CPA who specializes in real estate and they can review your operating agreement to see if you’re setting yourself up properly, and they can do your regular taxes… and be cheaper than Prime. 5th, a separate CPA can work with you regularly to review your investments and strategies to determine good tax strategies as you look to execute any deals. 6th - don’t lock yourself into a crazy subscription model before you start making money!!!

They are not complicated ordeals.

And I totally get what you’re saying about finance people—they can make things feel so complicated!

(Note: NEVER hire someone just because they’re friends with one of your employees, it makes firing them way more complicated.)

Is that process too complicated, yes, but there is nothing in this decision that will prevent a tax sale purchaser in MD from reselling at a profit after obtaining the property by foreclosing the right of redemption.

Our life is complicated and I work a complicated stressful job, but if we’re being honest, I also don’t have time for renters, but I somehow make it work and I personally think it pays off.Mtg: 1800Rent: 2900Owe: 200Rate: 4.5 I thinkSell Price: est. 450-460No other rentals except an in law suite on our current primaryFuture goals: would love to use this properly to buy other properties to get out of the corporate rat race. 

The rules are more complicated than your one sentence, and even Tom did not have the time to explain all of them on his podcast. 500 hours is one way to qualify for material  participation, and there are other ways.

@Bianca Rodrigues  I second Ken's advice above, definitely get an appraisal and inspection if you move forward with the deal.The two existing mortgages make it complicated. 

Each of these asset classes requires a deep understanding of market conditions, legal nuances, and financial structuring to avoid costly mistakes.For example, tax liens can seem like easy wins but come with complications such as redemption periods and legal challenges.

I got quickbooks once and it was so complicated and cumbersome that I gave up trying to use it.