A year ago I wanted to start my rental portfolio so I got a mentor and got into action and have acquired 15 units in the last year!

for some reason REITs have never been a sexy asset class, older investors look at REITs as a weird-bond and wonder why own something with 4-5% dividend when they can own Investment Grade corporates at 5-6% or even recently US treasuries at 5%, and young investors don't even know what they are.yet they acquire class A real estate, the kind you and I can't due to price, the kind that has the best capital appreciation in great areas long term, and they have access to credit at lower rates than us, or they can just print shares and get new capital for free that way, to buy more great properties, They can pay for the best management, they don't ever pay brokerage fees either in or out (have everything in -house), and they generally have much lower risk as most of their portfolios are leveraged at only about 30-40% LTV, and we have zero personal liability when owning them as opposed to the litigation headaches we get with direct RE, and right now they collectively are on sale about 25-50% below their NAVs at lowest valuation since 2008, as opposed to SP500 at all time highs.

Home Inspection Costs: The costs associated with a home inspection for a rental property are typically considered part of the cost of acquiring the property.

The first order of business when you acquire a property is evaluating RISK MANAGEMENT of your property.  

I wish you well in making your choice and that you succeed in acquiring your first rental home by 2024!

I have since acquired my own real estate sales license and subsequently broker license to start, grow, and operate Home Roots Property Management.

The process is certainly legal, but the articles have been implying that there may have been some title fraud going on to expedite the process (even in cases where the property was legally acquired). 

My goal is to acquire enough properties and do enough flips to walk away from full-time work in 10 years.

., 17.5 years remaining for residential property).New Schedule: Simultaneously, start a new depreciation schedule for the additional cost basis attributed to the replacement property, following standard timeframes (27.5 years for residential, 39 years for commercial).Option 2: Treat as New AssetCombined Basis: Treat the entire cost basis of the replacement property (carried-over basis + additional funds invested) as if it were a newly acquired asset.Single Schedule: Depreciate the total cost basis over the standard timeframe for the replacement property type (27.5 years for residential or 39 years for commercial).If you choose option #2, you need to file an additional form (4652) with your tax return. 

Our goal is to acquire 10 parks in 2024Let's go!