I won't repeat others' questions that have been posted already.

.- Depends on what you're doing specifically, but usually I'd recommend getting an EIN at least to give access to business bank accounts- Repeating #1, if you're going to a property and 100% of your time is spent doing renovations and the like, sure, but if any of it is for personal benefit, that'd be disallowed.

In this thread, you repeatedly highlight the IRS position that a Husband-Wife LLC does NOT have an option to file as a Qualified Joint Venture (QJV) and must therefore file a partnership return.

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Travis Boyd The quality of the neighborhood will affect the cap rate to be used.

You might also look into learning about BRRRR (Buy, Rehab, Rent, Refinance, Repeat), a popular method for scaling a portfolio.Network Locally: Engaging with local investors and attending meetups in markets like Dallas or Fort Worth can provide insights and connections that are invaluable.You'll find that momentum grows quickly.

If you're using financing, evaluate how a rate hike could affect your payments.

It will also be interesting to see how values could be affected down the road, as well. 

The tax expert knows more about whether or not the future is affected by changing the use between 2023 and 2024.If you are worried about paying taxes on rental income, you might consider that you can rent your home out tax-free for (I believe this is correct) 14 days of the calendar year. 

You don't need to repeat.