Prepare for extra holding cost expect budget and the timeline to be more than you originally thought.3.

Futher, if you come prepared with the numbers on your end as well as a solid idea of your exit strategy it will streamline the process. 

However, with careful planning and preparation, obtaining financing is still possible.Keep in mind that setting up an LLC for your rental property won't directly impact your loan eligibility, but the experience you gain demonstrates valuable skills for commercial real estate investment.

Any CPA/EA/Tax Preparer can DO your taxes. 

Little background - As a married couple, since 2016-2022 we used a local well-known CPA in Austin,TX who prepared our taxes (and helped with some tax strategy/planning) for a W2 HIE + business owner.

@Mike Arias  When you convert your property from your personal residence to a rental property, your basis is what you paid for the property originally plus renovations you do in preparing it for rental and minus the land value.

You can prepare yourself for that by having another inspection conducted 10 months in then bringing that to the builder to see if they can fix anything outstanding for you, before the warranty is up (if applicable).In summary, buying a new build means you have to arm yourself with information so that you know what you are getting into.

Unfortunately, you'll just need to get your pencil out and grab every expense possible in preparing this for sale.

.), you'll be much more prepared to do it if you have a few HH's under your belt--a ton of the lessons you'll learn from a HH can be used to succeed in other areas of real estate ...in fact, I'd say that a HH should be a necessary prerequisite to the more advanced strategies (like out of state investing, BRRRR’ing, flipping, etc.)!

In light of your circumstances, take into account the following real estate investing strategies:Fix and Flip, Buy and Hold, and BRRRR (Buy, Rehab, Rent, Refinance, Repeat)Always keep in mind that careful preparation, thorough research, and modifying your approach to suit your risk tolerance and financial objectives are the keys to successful real estate investment.