I use an excel sheet I created that includes the date, REPS category, property, description of activity/activities, the people / tools of the activity and the hours spent on the activity.

This was a clean foreclosure property, which is usually difficult to find.

I have gotten seller financing from this exact set of steps, which may enable you to find a seller-financed property.  

It's going to be tough to buy a property without steady W2 income.  8k is a good start, but you might need to keep saving.  

The tenant has two types of coverage: liability and personal property.

When I inquired about the property it was already bid up over $100,000 asking price (still lower than sme other properties I saw - $140k/unit).  

Was a family members property.

You do not need a separate LLC for each property!

While gifts exceeding $18K per year (2024) require filing Form 709, they don't create an immediate tax, but the IRS may scrutinize this as tax avoidance.Tax-Saving Alternatives:Prorated Section 121 Exclusion – If you lived in the home part-time, you may qualify for partial tax exemption.1031 Exchange – If your share was an investment property, reinvesting the proceeds defers capital gains.Installment Sale – Spreading payments over time may reduce your tax bracket.Adjusted Basis Review – Factor in capital improvements and selling costs to lower taxable gains.This post does not create a CPA-Client relationship.

What area are you in, have you locked up any properties yet?