-One of the cheaper options I have found is TaxAct Business ($140 + states), and TurboTax Small Business ($739 + states).The issue I am potentially running into, and I am not sure if the online software's mentioned above can handle (they won't tell me unless I pay for advice), is figuring out how to make sure the losses/initial capital contributions are reflected on my K-1 and not my business partner, since I made 100% of the contribution.

Because two things: first, if you can't save enough money to make a down payment on an investment property, you shouldn't even be in this game, and second you are going to need cash reserves to cover the infinity of things that can go wrong on a rental, which means you should already have some free cash flow coming in from somewhere to account for that before you even rent the place out.

Ignorance is my main issue but after reading Rich Dad Poor Dad I’m inspired to get in the game.

STR is definitely not a rookie game right now, but your flow to success you have sounds way easier than it is in real life.

@Michael Dallas congrats on being way ahead of the game!

@Andrew Steffens pretty well covered it, I would only add $125 for software fees to run the STR.

What software is that?

You'll need a reliable network of local professionals (plumbers, electricians, handymen) you can trust.Hiring a Property Manager:Peace of Mind: They handle day-to-day operations, tenant communications, and legal compliance.Local Expertise: They understand the local market trends and rental laws in Colorado Springs.Cost: While there’s a fee, many find it worth the reduction in stress and time commitment.Lessons Learned from ExperienceBuild a Strong Local Team: Even if you manage the property yourself, having a dependable local handyman and a real estate attorney can save you headaches.Leverage Technology: Utilize property management software for rent collection, maintenance requests, and tenant screening.

After all, it makes sense in game theory to "get yours" even if it's bad for the country on the whole.

Mortgage rates are dropping fairly fast so check out the numbers and have a good conversation up front with a Banker first.This can make or break your real estate portfolio just by having a game plan up front.