You only need a place to track tenant information, payment history, maintenance, etc.

During construction, Regular site visits and communication with the construction team will help ensure the project stays on track.

You have a inside track to high paying STR/MTR residents, or something that is just out of the ordinary.   

Here's how to get started and advice on each area:Section 8 Rentals:Education: Learn about the Section 8 program, including eligibility requirements and benefits for landlords.Networking: Connect with local landlords who have experience with Section 8 rentals for practical advice and insights.Property Selection: Look for properties in Raleigh, NC, and surrounding areas that meet Section 8 housing standards and have potential for rental income.BRRR Method (Buy, Rehab, Rent, Refinance):Research: Study the BRRR method to understand how to find undervalued properties, finance renovations, and refinance to pull out equity.Partnerships: Consider partnering with contractors, lenders, and real estate agents experienced in BRRR to streamline the process.Market Analysis: Analyze local market conditions to identify neighborhoods with potential for property value appreciation and rental demand.Airbnb Properties:Regulations: Familiarize yourself with local regulations and zoning laws governing short-term rentals in Raleigh, NC.Property Preparation: Prepare properties to meet Airbnb standards, including furnishing, amenities, and guest experience.Marketing: Develop a marketing strategy to attract Airbnb guests, leveraging platforms like Airbnb and optimizing property listings.Overall Strategy:Continuous Learning: Stay updated with industry trends, attend local real estate meetups, and consider joining real estate investor groups.Financial Management: Manage your LLC, Opal Capital Holdings, effectively to track expenses, income, and tax obligations.Long-Term Goals: Keep your multifamily apartment goal in mind, and progressively scale your real estate portfolio based on experience and market opportunities.If you would like some help getting started, or just want to discuss please feel free to reach out to me directly.

After the renovation is complete and you're renting the unit, not having to worry about tracking physical keys is a super convenient perk for residents/guests, and also has the added benefit of minimizing the amount of lockouts and other headaches you'll potentially have to deal with later on down the road. 

for a scope of work or keep track of the project and its returns ? 

I feel stuck in a similar situation, I have $1M in equity in this house that I’m living in and renting the mother in law apt next to it , the problem of course is the 7-8% interest rates , have they not stopped the BRRRR technique in its tracks ?

Thanks to a successful reward crowdfunding campaign, we have raised the necessary capital to seed the project  and are on track to build an additional 6 units what is likely the first lodge in the US funded by a reward-based crowdfund.

The fresher the debt, the more easy it is to track and collect. 

This separation helps in maintaining clear financial records and simplifies tax reporting and financial management.Setting up an escrow account specifically for rental income within your LLC can offer several benefits:Financial Clarity: It separates rent payments from other operational expenses, making it easier to track income and expenses related to the rental property.Legal and Compliance: Helps in demonstrating that rental income is kept distinct from personal or other business funds, which can be important for legal and tax compliance purposes.Tenant Transparency: It provides transparency to tenants and other stakeholders regarding where rental payments are deposited and how they are managed.While it may not be a legal requirement in all cases, maintaining an escrow account specifically for rental income is a prudent practice that many experienced investors and landlords follow.