With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

My mortgage should be about $2,100 after I get PMI eliminated and I was going to rent it to a friend that I have known since high school for $2,000 a month.

I want to know is it more cost effective or easier to purchase the property alone and put it in a mortgage in our name or purchase the LLC from him that holds the property within it.

These types of properties require experienced management to navigate the challenges effectively.

@Chris Shon Hiring a real estate-focused tax accountant can be highly beneficial, especially if you’re new to navigating the complexities of real estate investments and LLC filings.

The percentages are going to be up to you There are all kinds of High interest account that require all kinds of hoops to keep them.

@Jacob W. land market in FL is highly competitive.

I'm just getting my hands on real estate investing, I know it's not a good time with high interest rates 🤦🏻‍♀️but I'm looking to get something by this year.

Interest rates are pretty universal across country, you are in a high demand, high cost area.