If you are new, stick to turn key.  

These types of places typically don't use alot of technology or have great systems, making it easy from a management perspective to turn things around. 

There's a lot to be said about this but having process in place to mitigate turns going bad helps.

It’s great to hear about your progress from flipping homes to turning it into a full-fledged business.

Also the majority of those costs to covnert to a 2nd unit will need to be capitalized and depreciated, but some things (new appliances, flooring, paint, kitchen cabinets) can be shorter year assets vs. across the full 27.5 and IF it turns out that unit is > 50% you can use bonus as well on those items.

With this proses the investors I work with are also able to take advantage of some great incentives including solving for the biggest problem in the field, interest rates.The investors I work with also appreciate a turn key process on Single fam up to Quads and larger community development.  

I always hear that due to liability and taxes etc, investment properties should go into an LLC.What is the best way to turn my existing home into a rental?

I don’t recommend doing value add deals if you don’t want to turn this into your full time gig.

Hey Hima,First off, respect for your determination to turn things around.

I turned everything over to him.