You are on the right path, keep putting yourself out there and asking questions. 

I am leaning towards the self-manage option and got several questions regarding self managing a property while living out of state.

Basis is extremely important in these entities and if audited can and will come into question. 

Is there a question? 

If you have any questions shoot me a message and I can walk you through the process.

Staying as liquid as possible might also help you handle CapEx, taxes, small repairs, and so on.Let me know if you have any questions—I’d love to help in any way I can!

whats the question ? 

@Mary Jay this is a question about ACCURACY in accounting. 

Feel free to reach out if you need any assistance or have any questions!

The property will be strictly for investment purposes, not a primary residence.I’ve been looking into two potential financing options:Hard Money Lenders (HML) – I’m drawn to this option for its speed in closing, but I know the rates can be higher.DSCR Loans – This seems like a great option for long-term rentals, but I’m unsure if it’s the right fit for my auction property since it might need some rehabbing.I’m also considering purchasing through a land trust or an LLC to add a layer of protection and privacy.So, my questions are:What’s the best way to approach financing for auction properties?