You can only prepare so much to the point more is beneficial, and from how it sounds I would say you are more than ready to get into your first deal!

With your extensive construction experience, you have a valuable skill set that can be beneficial in your new venture.

Buyers and sellers could theoretically save sale and purchase costs, but only if the value of the asset is predetermined and mutually agreed upon.

I try to avoid that with screening, charging late fees and serving the notice to quit any time rent is late by even one day to avoid anyone getting behind on rent and developing bad habits, good management, quarterly inspections and mutual respect with residents.

It takes some work up front, but overtime pays off big time, as mutual trust and understand develops.Thanks again to this community to providing so much support and wisdom throughout the years!

It may be quite beneficial to work with a local real estate agent who is knowledgeable about the specifics of the St.

Other beneficial tax strategies would be a cost segregation study and bonus depreciation which would allow you to accelerate your depreciation and not have it set at 27.5 years. 

Working on a second flip that we found on the CRMLS but I was interested in trying to approach a person who might be in pre-foreclosure for our next flip to see if we might be able to come to a mutually beneficial agreement so they can avoid the big F but not rob them of their equity or homes.  

If you have specific questions or encounter challenges along the way, seeking guidance from professionals in the real estate financing industry can be beneficial. 

Many states do have exemptions if the beneficial owner has not changed - like in your case.Federal - there are no income tax issues here.