@Ethan Tramel Welcome to the forums man!

Good luck, man!

11/30/2021 Jeremy Gaston has reached out to me as well. man is persistent!

Years ago we shared a campfire with a man and his son, they were being offered an exclusive contract to fabricate kitchens for McDonalds.

Talk to your CPA / accountant but if you are in texas and buying in texas, they incorporate in texas.3.

I’m a single man, finding somewhere to live is of no concern for me.

For further details on this parameter, please consult our user guide.We have allocated a budget of $15,000 for renovations / refurbishments.The purchase price of a 2-bedroom / 2-bathroom unit in this area is $498,000, with 5% of this price allocated for closing costs.A turnover cost of $175 per booking has been factored in, with no rental management fee assumed, indicating that you will manage bookings and cleaning services independently.The mortgage rate is set at a fixed 7% per year, with an 80% loan-to-value ratio (LTV) and a 20-year term.For the remaining parameters in our financial model, please refer to the image above.Taking these values into account, below are the results of the financial case study.Some insights:The results show the anticipated performance of a 2-bedroom / 2-bathroom unit in the southwestern area of Okaloosa Island, Florida.Expected gross revenue amounts to $78,240, derived from 47 bookings with an average stay of 5 days at an average daily rate of $325 (inclusive of cleaning fees).Total yearly expenses add up to $68,014, encompassing various costs from private mortgage insurance (PMI) to property taxes and annual loan repayments.The cash required for this deal totals $139,550, incorporating the 20% down payment for the mortgage, 5% closing costs, and the $15,000 renovations budget.Pre-tax net revenue stands at $10,226, representing a 7.33% cash-on-cash (CoC) return.The annual return on investment (ROI) is 1.9%, excluding value appreciation.

@Aaron Brown - we should connect man (I'm over in Winter Park/Maitland area), I've been investing in Indy since the spring.HIGHLY recommend David Moudy - https://www.biggerpockets.com/co/moudy-and-co-property-managementHe manages a duplex for us and I will use him for anything we acquire in the future.

Quote from @Basit Siddiqi: One question you should ask your CPA or a question I would ask is if the interest on the HELOC being deductible if used towards the purchase of rental real estate.I haven’t found the right CPA yet willing to work with me, I got lots of questions that my HELOC was deff a big question I wanted to incorporate!  

Looked at their incorporation paperwork.