I complemented it looking for more documents at the IRS site with Lance’s words and it was extremely helpful.Indeed, a multimember LLC can select how to be taxed sending a form to the IRS and, If taxed as a partnership or corporation, not be subject to FIRPTA because it is not a flow through entity (for this tax withholding purpose ) anymore.Anyway, I want to have a meeting with a real estate experienced CPA in the DFW area in order to clarify any details and establish an LLC with everything covered.

In a saturated market with high traffic, the play is to create properties that are decorated and themed extremely well so they will pop out online.

Unless the condo is extremely AND you can easily rent it out, I don't think it is worth taking the risk as a first investment.

I might not be well-versed in your market, but that does sound quite extreme.

After that you substantiate your costs with extreme prejudice.

The amount of people relying on RAFT for first, last and security is extremely common in lower income areas since they are typically living paycheck to paycheck and it is hard to come up with deposit to move into a new place.

@Kristen Ambrose this was extremely helpful!!

If I was your brother getting my REI portfolio started, is there any advice, strategies, links, literature, articles, or people to follow that you would recommend for someone extremely leery of financial risk?

Verifying last 2 years of rentalhistory and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

Obviously land and new construction, specifically FHA construction, is not popular these days so it seems to be extremely difficult to locate anyone with sufficient expertise or specialization in this area.