Eliminate debt, establish a budget, and save.

Partner Driven utilized its expertise in deal structuring and the local market to flip the property quickly at a higher price point, demonstrating our ability to maximize profits without heavy investment.

My question is, if this is not the best market to utilize that strategy, what strategies are you finding the most succuss with?   

If you have to go through the utilities companies for city hook ups or gas or electric?

Establish a clear legal agreement with your father on responsibilities and income, and plan for future ownership transfer. 

The area looks to be a decent area for STR rentals and has potential to be a great investment if that goes well, we won't have a mortgage on the property so outside of taxes/insurance/utilities it should be easy to cash flow.

Also, if you are buying a distressed property many times they cannot be inspected fully because utilities may not be turned on and you are fixing so many things already there isn't much risk in whatever they might find anyways. 5.

4) What are some effective ways to build a network and connect with realtors to establish valuable connections?

Make sure to research local rates for cohosting and management services to stay competitive.If you're doing this as a side gig or part-time job, it’s essential to time block, create systems, set expectations with property owners, and establish boundaries to ensure a smooth experience for everyone involved.We opted not to pursue rental arbitrage for two key reasons: dealing with landlords and the significant upfront costs to set up and run a profitable STR without the benefit of property ownership.

Most tax professionals do not advise their clients to utilize this approach and it may raise concerns under IRS examination.