I went with the “easy” investor friendly lender for the single-family rehab while using a bank that had rigorous underwriting policies for the ground up project next door.

On the other hand, if you want something simpler or closer to home, a single-family home might work better.Since you need more space for your growing family, consider looking for properties that offer both extra room and good investment potential.

Issues like contractor delays, supply shortages, or unforeseen repairs can extend your timeline, which adds to your holding costs (mortgage, utilities, etc.).Tip: Factor in extra time for delays and have a backup plan to stay on track.Over-Renovating: Many new investors fall into the trap of over-improving a property, especially when they try to bring in their own taste.

You probably don't NEED a CPA or lawyer for help getting an LLC, but if it's your first time the extra money to know it was done correctly probably doesn't hurt if you can spare it.

Most new investors don't know if they will like the rigors of taking on a STR and dropping $200,000 for a down payment.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

There are no extra tax benefits with an LLC, as it's typically a pass-through or disregarded entity.

But then raise their rent an extra $50/month for this at their next lease renewal.

The extra half a cent per name is for them to scrub against the DNC. 

My company would essentially do everything for the landlord: paperwork, finding the buyer, rigorously vetting the buyer, payment setup, delinquency protection, and anything else that comes with owner financing.