Real estate is not my of my knowledge base at all but I want to start working on building passive income now (I’m 44). 

A sub S election will probably block the free stepped up basis benefit though.

Sometimes, I see investors lean into property managers who know the landscape and can “drive for dollars” around the block.

They want the easy, short road to building a company and someone has to pay for that short cut.  

We were going to partner together on it where I build and run a STR on it.

Hey @Eric Andersen, so there are a lot of regs in the DFW area.https://www.fortworthtexas.gov/short-term-rentalsRentals are not allowed in residential districts: A-#, AR, B, R1, R2, CR, C, D, UR.Dallas recently banned STRs in single family homes but there was an injunction that blocked it.

They often have different vendors introduce themselves so you can build your team and they often have a local member do a case study on one of their properties to share the ins, outs, ups, and downs of the investment.

@Albert Gallucci as many have pointed out, in the commercial space of 100+ apartment buildings and offices, property classes have some pretty decent industry standards.We started applying these to 1-4 unit properties around 10 years ago, which you can verify on our blogs, because we saw too many newbie investors not properly taking into account things like, neighborhood status, tenant pool, property condition, etc.Unfortunately, there's no industry standard for this, but you can use some basic logic to think your way through your own Classifications.

. :-)Building rapport over the phone, you are listening for motivation, same as in person.

The City of Detroit is block-by-block in many Class B & C areas.In our opinion, zip codes cover too large an area.We use Detroit Neighborhoods, which are much smaller than zip codes.