Quote from @Joe S.: Maybe there’s something satanic you know about that you didn’t share.

It might help you avoid penalties if the IRS goes after you later.You can claim the labor expenses even without 1099s, but you will technically be in non-compliance.

How much detail are you wanting:In Renovations, this can be anywhere from $30k to $500k, depending on properties needs, scope of work, scale of finishes, access to labor, etc.

Quote from @Joe Derobertis: @Keira Hamilton can you suggest any forums similar to this one but specific to laundromats?  

Quote from @Joe S.: Quote from @Jarrod Ochsenbein: Started REI in August of '23.

@Joe Mathew finding deals is the hardest part, glad you found a good property!

Does that include materials and labor?

., etc. for example finding cash flowing investment properties which meet your ROI goal of 9% is NOT HARD heck almost every state (and likely every state) has a market which will achieve that but what does 9% mean without a dollar value if 9% is = to $200 or more okay that’s okay but if 9% means $25/mo. or alternatively if 50% ROI means $25/mo. doesn’t really matter much since although labor differs from area to area it doesn’t differ that much and also doesn’t really leave much room for error — so your minimum accepted ROI should also be couple within a minimum accepted $$ value (cash flow) and other minimums as well (i.e. min. equity, property types, property classes, etc.)Lastly as I mentioned achieving a 9% ROI is not hard and is achievable in every state; the HARDER part is to 1) achieve that AND 2) achieve 10-20% min.equity on the buy in or ARV AND 3) meeting your min. $ value AND 4) buying in a good/stable neighborhood/market AND 5) buying with some type of upside AND 6) etc. etc. etc. —- Again I’m not saying you have to do these things; it all depends what type of investor you are and what you are looking for however it is important to understand that if you shift the responsibility of either identifying the invest property or managing or any other aspect there WILL be a trade off — in this case the turnkey company has delivered on your goal of 8-9% ROI (projected... so TBC) and in return you have traded some of the other benefits of investing in RE for the convenience of not having to do much more than to look over the properties they have sent you and funding it from the comfort of your home, office, etc. ... again if this is the goal then you are on point but if the goal is to also partake in ALL of the other benefits of RE then you should understand that and not be surprised that it’s not a ‘stellar’ investment that checks all the boxes.

Quote from @Joe S.: Quote from @Dan H.: Goals between now and end of 2025   - finish the last rehab on my last purchase.  

I’d also recommend @Whitney Sewell's podcast The Real Estate Syndication Show, and other resources like the Joe Fairless podcast.