Consulting with a tax professional is advised to ensure compliance and proper handling of deadlines.This post does not create a CPA-Client relationship.

Recently, we created the first (as far as we are aware) residential assisted living focused fund and have successfully raised for multiple homes, giving our investors and us exposure to the cash flow, and equity upside that comes from owning the real estate and the business.

I have also been told by multiple people that I should create an LLC or Trust. 

Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.

I told the manager I've managed a portfolio of short-term rentals and that my previous landlord allowed me to do it and loved that it created an incentive for me to take exceptional care of the property.

You can also create a basic scope of work and get ballpark estimates from contractors or use cost-per-square-foot averages for your area.To determine ARV, look at recently sold comparable properties in the area that are similar in size, style, and condition to what your property will be post-renovation.

And therefore competition among tenants can create significant challenges, like...Businesses may struggle to establish a unique presence and loyal customer base, and a lack of profitability due to nearby competition will likely lead to higher tenant turnover.

@Christine AledamIf you create a California LLC, the $800 cost is a tax deductible expense. 

It allows for a period of adjustment during down periods and takes advantage of the market's upward trajectory.By projecting returns, considering a solid five-year window, timing the market strategically, and analyzing historical patterns, I've been able to make profitable investments and build lasting wealth.Let me share with you the strategies on creating generational wealth that have worked for me and can work for you, too.Long-Term Mindset.

This is a follow up post to one I created yesterday regarding a DSCR loan.