For the last 22 years I've been involved in real estate as a house flipper, with extensive experience in building and renovation contracting, owned a residential property management company, and now have a private money lending business (licensed NC re broker).

What they don't account for is that I could buy the home 15% below market rate.

It’s exciting to hear you’re diving into real estate investing and involving your daughter in the process — house hacking a small multifamily is a great way to start.

but if you want immediate cash flow - you're better off in a savings account.  

My background involves social work & non-profit management before getting into real estate.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

It has been discussed on this forum multiple times, you can search the forum for earlier threads.The reason CPAs disagree is because it's somewhat controversial, especially between accountants who do NOT specialize in real estate.

Interesting how the best option for learning how to make a cake didn't involve spending lots of money on a cake making training course...  :-)

These have a much higher CoC ranging from 18-30% depending on how involved you are, the property specific and its execution from a design/amenity standpoint to management.  

My name is Jared Smith and I have been involved in various real estate investments since 2006 when we did our first flip in the PNW all on a CC!