One CPA is telling us that we need to file a partnership return for all LLCs and the other CPA is telling us that we can place all properties on our Schedule E and use Schedule C for our property management activities We like the Schedule E and C approach because it's cheaper.

I have down an owner financed deal in 2024 and still actively use a HELOC in support of my flipping.  

I'm going to follow this to see what tips folks provide.MikeHey Mike, I am actively investing there so feel free to reach out with any questions!   

If you have a competitive advantage that you can bring to your co-hosting/managing, then I would recommend looking for owners with properties that mesh well with your target resident.For example, if you are an active duty military servicemember with unique insight into what a servicemember is looking for, lean into that.

If you are hoping that this property will stand on its own with you living in it and not having to put your active income into it, then it might not be the best option for you right now. 

If the investor is actively involved and can stay on top of materials, roll with it!

Learn what people are doing right now in this difficult market and find a way to replicate their success.A lot of people say they are actively investing.

Keep watching the market and align yourself with people who are actively buying, they will have their fingers on the pulse of what is going on. 

Hi Jon from Boyertown, PA-You and your fiancé are interested in buying your first short-term rental and wonder profitable areas to purchase with a budget up to $500,000.I would look at places along the west coast of Michigan, Grand Rapids, Kalamazoo, and near Ann Arbor, MI.It is important to understand the local STR regulations in each community and partner with a property management company that can help your navigate that and manage it well for an excellent guest experience.Don't forget to look into bonus depreciation and doing a cost segregation study to increase the tax benefits of ownership and if you "materially participate" in the management of the property per IRS guidelines it can offset active W-2 income which most real estate cannot.To Your Success!

.- Working a W2 as a firefighter, posting and consuming content- Leaving my W2 to dive deep into real estate investing and working as an agent... and still watching/posting content all while business was ok - Deleting social media apps (one have one on my phone that I use 10 minutes or less a day), diving deep into building my business and skills which have drastically increased due to pure focus and increasing my business significantly- moral of the story... focus on the things you need to do in business (dollar productive activities) and life experiences while reducing consumption will increase your success