One thing to be aware of is the FHA multifamily self-sufficiency calculation which determines if a property can generate enough rental income to cover its mortgage payments.

Can I DM you to pick your brain on what you've learned over the years?

So far, I have been fueled by passion and determination but I do not have any mentors and have not had a lot of guidance at all as I have obtained these properties.

Many OOS investors pick one market to master before expanding.Spending the next few months learning and analyzing deals is a great plan!

Pick a different area to look in.

Quote from @Jemini Leckie: Hello, I am trying to understand the Orem, city code to determine if I am allowed to rent my basement ADU that I currently live in two a couple cousins and their friend.

I picked up the book " The Book on Managing Rental Properties" and it both clarifies and scares me.

Where you pick will depend on your goals for cash flow and your budget to buy.

When they pick up, explain that you meant for your LLC to be a disregarded entity and you HAVE NOT filed any tax returns yet.

@Aaron Zimmerman Good point about structure set up and determining cost bases.