However, existing properties may need updates or renovations, leading to potential additional costs.Key Considerations:Market Conditions: Fluctuate, impacting whether buying or building is cheaper.

All gains until time of death are gone within tax impact. 

The neighborhoods where the numbers look crazy (25%+ cash on cash returns for buy and holds) come with an enormous amount of risks. if you have the right team in place you can succeed but it will require quite a lot of time and effort.

So the negatives mostly are accurate but not usually impactful for a long term hold.I recommend you (and virtually everyone) start local.  

And whether they find all of these little issues or not, it will still result in thousands of professional fees and many hours of your time to deal with it.Then you need to look at the other side, if you are mis-stating your tax returns, you will also end up providing bogus numbers to banks (also not a good one to lie to), potential investors, potential buyers, impacting the value of your properties by over stating your expenses...Honesty is a great policy. 

In this couple’s case, painting the house white and adding a bedroom were game-changers.Prioritize high-impact areas like the kitchen and bathrooms, and add to the home’s curb appeal.

Hi,Checking if anyone has any recommendations on how to go about setting up llc and how it impacts personal loans for the same.

Using it like long-term debt can be bad for your financial health.First, the HELOC impacts your DTI the moment is created, not the moment you draw down on it. 

either way, there is a  higher than usual risk of  your renters losing part of their incomes stream, impacting your ability to collect rent, and that's ignoring any other reservations you might have. 

Hi @Rita SamaddarI recommend areas based on three things:Budget: Knowing your cash to close helps me suggest the best areas, especially if you're using a hard money loan.Rehab Level: Whether you prefer low or major rehab impacts the neighborhoods I'll recommend.Market Dynamics: Areas with minimal days on market are ideal, as they predict how quickly your property will sell post-rehab.In conclusion, start with how much you have to work with and the level of rehab you're comfortable with to find the best areas for fix and flip.