Albuquerque is already such a wonderful place to live and do business so I am all for anything that will make it even better.  

You can do this with almost any business, as long as you are bringing in the clients, leads, deals and etc..

With an LLC, you may be able to deduct business expenses more effectively and avoid double taxation.

Now more than ever, I am seeing offers required to be submitted through a portal where the listing agents want no business being involved with up front negotiations.

You can put your license in referral at most brokerages and pay no fees and still be able to do referral business.

My mortgage will be $2,005/month, and I’m budgeting up to $600/month for utilities, leaving a potential monthly cash flow of $995.I also set up an LLC and a business account to track rental income and expenses.Questions:Do you have any advice for me as a young real estate investor?

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

That said, I can handle it when necessary and have successfully built multiple self-started businesses and ventures in real estate investing (REI).

But it’s something I tailor the business plan to just in case.So your investor could get caught in having their loan called with not a lot of notice if things change.

If you run out, you’re dead in this business.