I’m hitting a bit of a roadblock when it comes to funding.I’m eager to start building a portfolio, but being young and not having substantial savings yet means I’m looking for advice on how to secure capital to get started.

The reality is that imposing expensive and time-consuming sprinkler installation requirements will drive property owners to either scale back necessary renovations or avoid permits altogether.Currently, when owners propose substantial renovations, they are often informed that their projects will require sprinkler systems, which can cost around $45,000 for a typical three-decker.

One of the things I learned early is that the margins on a deal need to be substantial. 

If you do find that the costs to maintain the investment property are too substantial and you'd rather sell down the road, it would qualify for a 1031 exchange since the property was held for investment use.

He prioritizes deals with substantial margins, mitigating rate increases, and actively manages rehab costs to maximize profitability by being heavily involved in the process and GCing his own projects.

.- High risk - Time-intensive - Requires substantial capitalBRRRR:Pros.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.

Biggest things you’ll want your cpa to guide you through;Material participation- there’s three tests; 500 hours; 100 hours and more than anyone else’s time, and substantially all the activity.

Quote from @Rob Anteau: Quote from @Carolyn Fuller: My ratings & reviews improved substantially when I went from providing quality chocolate & fresh flowers to providing croissant from a local bakery.

For existing properties, you must make substantial improvements (equal to the property’s value, excluding land) within 30 months.Ensure the duplex qualifies as an OZ investment and complies with QOF rules.

In addition, you would need enough working capital to pay for insurance (which will be going up a LOT in Los Angeles) and to pay for property taxes.Don't buy this unless you have substantial resources and a cash cushion to keep yourself safe.