When considering creative financing, it’s crucial to fully understand the terms and risks of partnerships, seller financing, or using HELOCs to avoid overleveraging.

Why ask: This helps you understand how many people have succeeded under their mentorship, giving you an idea of the potential outcomes.

@Derek SoohooIf you're looking to invest in multifamily properties in Chicago, start by researching different neighborhoods to understand rental demand, property values, and landlord regulations.

I am looking to invest in Scottsdale, Tempe, Phoenix, or Mesa and want to learn more about analyzing multifamily deals, understanding PHX market trends, and house hacking in general. 

My research has resulting in understanding that REP status can be used to take losses in STR property against other active/non-passive income (such as w2), however there is a qualification of material participation. 

I understand this is almost only used between an individual buyer and an individual seller who is seller financing the property, not banks.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

For reasons I don't yet understand, if the property is sold I cannot take advantage of a 1031 Exchange and my gains will be taxed as income, which will be 35% federal and 11.3% CA income tax. 

I've seen many investors get burned because they failed to understand their hard money loan terms/rates, even if they did acquire what should have been a home run deal. 

You'd want to work with the REIT sponsor and your CPA to understand the expected timeline for this a bit more.