My 17-year-old daughter is still in high school, but she saved up $20,000 in 14 months as a waitress in a town of 10,000.

Other advice, especially that pertaining to tax benefits, is also highly appreciated!

I highly suggest connecting with fellow investors in the area to see who they are using for their properties.

Nobody likes to work hard in the heat.The biggest concern in the past has been winter, but 2024 was the warmest year on record and we have seen +3F on average in every season, which really took the edge of winter (you can call it brown grass season now) while summers are pleasant 75-85F.The cost of living is low, yet the quality of live is relatively high.

A personal liability policy "MAY" extend to one or two rentals but if you are planning on building a portfolio consider the commercial umbrella.Another thing to consider is that the courts frown on carry high personal liability but low business liability when trying to hide behind the vail.

Since you're analytic savvy, run some high level amortization schedule scenarios to see how much equity you gain through annual principal payments.

I suspect it will be well used and have high maintenance costs.Software: office of google office, asana, possibly quickbooks (i would normally not suggest for a single rental, but the rent by room compounds things).  

One fast way to generate cash flow is to invest in high cash flow, low appreciation markets (say several midwest e.g.

The main reasin is for a better clearance of liability. with you editing a signed contract, that has a high Probability of letting a tenant be able to void the contract and it actually happening.

@Mohamad Guene Investing in mobile homes near a university can be a profitable strategy due to affordability, high demand, and strong cash flow potential.