Whenever you are spending a dollar from the business, you should be saying to yourself "In what way does this expense return more than I spent?"

Now, if she did that in a prior year, you technically would have paid less taxes than you should have and will likely need to amend your return.

The other picture (with the green boxes) is the return for possible scenarios - MTR, STR, LTR - but all have negative cashflow.

And yes, sometimes you have to pivot depending on other parts of your portfolio.The issue is that a flip is higher end finishes and amenities than a long-term rental so you could overdo the market if you have to rent it and get less of a return for the finishes.

From there, I would like to explore house hacking/the BRRR strategy, but I know there are rules, regulations, and connections I will need to make all this happen.If anyone is willing to have a conversation or thinks they could use my help in bettering their real estate business in return for some advice, I would love to at the very least create some new relationships.Here is my 2.6 cents adjusted for inflation...What about getting a realtor license?

Scope of services: do you just want the tax return done or do you want tax planning?

We don't allow anyone to stay even a day late. 

What might you share to enlighten others of the market conditions and attitudes in Austin as of late?

Specifically, I’m interested in understanding the costs, potential returns, risks, and strategies involved in transforming raw land into a residential neighborhood.  

It’s a higher barrier of entry investment with much higher returns (and tax incentives).