I leveraged some rehab skills most of which I learned as I went.

Consult with Experts: If you're uncertain, seek advice from a financial advisor or mortgage professional who can help you evaluate the specifics of your situation and give tailored recommendations.By following these steps, you can make a well-informed decision about whether refinancing while considering prepayment penalties is a good financial strategy for you.

It’s advisable to consult with a tax professional or financial advisor to determine the most appropriate approach for your circumstances.

This can lead to more opportunities and partnerships.Market Understanding: As a property manager, you'll gain a deeper understanding of the local market, which can be invaluable when you start acquiring your own properties.Steady Income Stream: Property management can provide a consistent income, which can be particularly beneficial in the early stages of your real estate venture.Skill Development: You'll develop a range of skills from customer service to maintenance oversight, which are crucial for successful property ownership.Brand Recognition: Establishing a presence as a reliable property management company can boost your reputation, making it easier to attract tenants and investors when you start acquiring properties.Cons:Time Commitment: Property management can be time-consuming, especially if you're dealing with multiple properties or demanding clients.Regulatory Compliance: Staying compliant with local laws and regulations requires diligence and can be complex.Conflict Resolution: Dealing with tenant issues and conflicts is an inevitable part of property management and can sometimes be challenging.Financial Risk: There are financial risks involved, including late payments or damage to properties.Market Fluctuations: The property market can be unpredictable, affecting both rental income and property values.Overall, starting with a property management company can be a smart way to enter the real estate space, especially in an area with a clear need for such services.

In addition, somebody else is paying off your mortgage and the property can be a good tax write-off (consult with a professional).

It sounds like you’re in a solid position with your skills, VA loan access, and local handyman expertise.

.: Generally you would call in junk and cleaning professionals right?

Hi Katie, do the tax benefits apply to just Real Estate professionals or could it also apply to regular full-time W-2 employees?

Readers should seek professional advice.

For example, they lost a fairly major battle when they tried to argue that only licensed professional can manage short term rental properties.