I recommend establishing a screening process.

It casts a dark shadow on an already struggling industry and opens the doors for more reform and regulation. 

We always recommend investors pick an area with little STR regulations that draws them and is more of a natural element people want to explore and see. 

STRs are super popular in Charleston, but there's a lot of regulation now that's only getting worse, as well as some saturation issues.HOI costs will be higher east of I95 in SC for the most part.

There are 5 counties, one incorporated city (SLT) around Tahoe and 2 states Each county has it's own STR regulations.

Here's how to get started and advice on each area:Section 8 Rentals:Education: Learn about the Section 8 program, including eligibility requirements and benefits for landlords.Networking: Connect with local landlords who have experience with Section 8 rentals for practical advice and insights.Property Selection: Look for properties in Raleigh, NC, and surrounding areas that meet Section 8 housing standards and have potential for rental income.BRRR Method (Buy, Rehab, Rent, Refinance):Research: Study the BRRR method to understand how to find undervalued properties, finance renovations, and refinance to pull out equity.Partnerships: Consider partnering with contractors, lenders, and real estate agents experienced in BRRR to streamline the process.Market Analysis: Analyze local market conditions to identify neighborhoods with potential for property value appreciation and rental demand.Airbnb Properties:Regulations: Familiarize yourself with local regulations and zoning laws governing short-term rentals in Raleigh, NC.Property Preparation: Prepare properties to meet Airbnb standards, including furnishing, amenities, and guest experience.Marketing: Develop a marketing strategy to attract Airbnb guests, leveraging platforms like Airbnb and optimizing property listings.Overall Strategy:Continuous Learning: Stay updated with industry trends, attend local real estate meetups, and consider joining real estate investor groups.Financial Management: Manage your LLC, Opal Capital Holdings, effectively to track expenses, income, and tax obligations.Long-Term Goals: Keep your multifamily apartment goal in mind, and progressively scale your real estate portfolio based on experience and market opportunities.If you would like some help getting started, or just want to discuss please feel free to reach out to me directly.

I defy you to name a title vehicle that cannot be pierced, even LLCs owning LLCs.Yes, have to file tax returns, but you don't know what your neighbors' tax returns say, and courts don't order turn over of tax returns as a matter of course, and even then, it's usually after judgment has been rendered.Trustees have to be honorable, which is why I use established banks and trust companies.Having your property in a trust will not protect it from a lawsuit.

- Are we able to word our new lease such that if utility costs exceed the established flat rate then the tenant is responsible for the difference?

In addition if you plan to rent by the room after you move out, check zoning because that style of rental is sometimes called a "rooming house" and regulated differently and may not be allowed where your home is.

Identifying turnkey multifamily properties with established performance can be challenging.