Quote from @Jay Hinrichs: I invested in a winery/wedding venue at the end of 2023 because I needed a quick tax strategy and couldn't find a property fast enough.  

$15k co-host, $6k insurance, $34.8k P&i (7%, 30 year DSCR), $5.5 prop tax, $12.7k utilities (mostly propane & elec), $7k maintenance/cap ex (3100’ with class A finishes), cleaning $24k (8 turns/month), then the small items. 

For example, I often see Buyers purchase property thinking there is a $1,000 deposit but then the tenant claims it was $2,000 because they paid the last month's rent.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Double taxation would be when you have to pay US income tax and then also Canada income tax and you don't receive a credit for your US income taxes.

You will truly be raising the clock, as each day will cost you very significant money.  12% interest on $250k is $2500/mo, or about $80 per day in interest, not including your other carrying costs (utilities, property taxes, insurance, HOA). 

The biggest advantage of using someone local to where you're buying is that they will understand taxes, insurance, and similar items very well when it comes to DTI/DSCR calculations and payment quotes, and they will likely have a local network of service providers for ancillary services (survey, inspections, etc).

Some numbers below for reference: I currently am taking home about 140,000 pre-tax.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

After he teamed up with a local intermediary in the Bay Area.. from what I read in the Wall Street Journal, Lockton has been helping investors streamline these moves.. he ended up freeing enough capital to invest in a mixed-use building in San Antonio that we’d been eyeing for a while.I’m no attorney or CPA, so I’m not giving legal or tax advice here, but there’s definitely something to be said for repositioning your insurance to fit your broader investment goals.