For house flipping, consider an LLC taxed as an S-Corp to reduce self-employment taxes by taking a reasonable salary and the rest as distributions.

Quote from @Andrew Steffens: I think going into an STR purchase with reasonable expectations of cashflow in this current market and rate environment is admirable. 

I’m not sure if this is for you, but...If you’re serious about leveling up your real estate game in 2024, there’s no reason not to try this.

(aside from the 1 or 2 homes that have stunning overlook views).When building out your buy box, are you all using the averages, or are you basing your min/max on the cream of the crop listing revenues, even when there aren't clear reasons as to why they are performing so much better than others?

I've never had to use hard money before, so I am not sure what type of conditions are reasonable.

I really want this property for so many reasons and don't just want to just walk away.Yes.

When you’re confident in your numbers, you can negotiate with clarity and avoid being swayed by emotions.Understand the Other Party’s MotivationEvery seller has a reason for selling.

It is not uncommon - main reason we see right now is over inflated original ARVs and now borrowers cannot sell and pay off the lender. 

Was wondering if I could turn one of my spaces into an assisted living multi-tenant facility as it’s in a great area for it and can be changed with a reasonable rehab.

FHA will not use any short term rental data.Something else to think about - any reason why you wouldn't use a Fannie Mae loan here?