I’ve made some valuable connections here and picked up a lot of helpful advice from the forums.I’m an investor and real estate agent in the Grandstrand area, so we might even have opportunities to help each other out in the future.

We are currently paying down most of our bad debt to put us on a better position to buy, and gaining more knowledge in the process.

They ended up selling at a loss and learned a valuable lesson the hard way.If you wouldn't feel comfortable living in the area, then why invest there?

Waco and Temple, Texas, are others gaining traction. 

You may show losses that can be carried forward and offset future capital gains.

I would appreciate any tips, advice, or recommendations for books and podcasts that have been valuable to you.I’m also interested in hearing your stories about how you got started and the challenges you faced along the way.Thank you for your insights.

Depreciation helps offset this, but be aware of potential capital gains tax if you sell the property in the future and depreciation is recaptured.

My goal is to create cash flow and gain financial independence to where I can leave my full-time job.

@Alexander F PollockYou may lose a tax benefit of a stepped up basis for capital gains purposes transerring interest away from her parents.Also consider conducting a judgment searches on all parties to the transaction to confirm there will be no title problems for would come up when the LLC sells in the future because you will not have title insurance to cover prior owner issues.

There are pros / cons of whatever way you go about it plus a lot of unknowns.If your dad owns the place and it appreciates a lot and he decides to sell it, the gain can potentially be tax free which you wouldn't have the option for if it was a rental.I personally wouldn't do business with family.What if you own it and he rents it from you and you both have a disagreement on rent increases?