Hey Tyler, It's important to work with a real estate-focused accountant, especially as you begin managing rental properties, to ensure you're taking full advantage of available tax benefits.

I’ve used ChatGPT to draft both, but I’d appreciate any advice on how to ensure these contracts are legally sound and ready to use with sellers and buyers.Thank you for your time and guidance!

Factor in the down payment, closing costs, and potential renovations.Cash Flow Analysis: Ensure the rental income from both units will cover your mortgage, taxes, insurance, and maintenance costs, leaving room for profit.

A professional can ensure everything is done correctly and help you avoid any costly mistakes.

Be sure to monitor it all closely to ensure that they aren't skimming product to use on other jobs.

A potential trap people may fall into is that they will borrow to source a down payment, therefore ensure you check existing debts and cash flow carefully otherwise you might be in over your head.

The challenge here was ensuring everything was aligned for a same-day close, but with proper coordination, we executed it flawlessly, reinforcing our ability to manage fast-paced deals effectively.

And if it doesn't cash flow at 75% LTV, then they would only lend 65% or 60% or whatever it is to ensure it cash flows.This is why, generally speaking, these days it makes more sense to house hack or flip. 

The reason I ask is that studios compete with hotels and hotels are efficient.  

Build a real estate network, evaluate potential properties, and use the 50% rule to ensure they cover your mortgage and leave positive cash flow.Good luck!