If they have passive losses from the STR, they might be able to offset some of that W-2 income through the passive loss allowance or by qualifying as a real estate professional.

This casual conversation turned into a unique opportunity, allowing me to connect directly with the owner and negotiate a fair deal before it officially hit the market.

As an investor-focused agent in the Cleveland market I always have my clients write the following contingencies in when buying a house that's tenant occupied:1) Offer contingent on home inspection- usually a 7-10 day contingency period, this contingency allows you to either A) move forward with the deal B) renegotiate the price if issues are found, or C) walk away from the deal2) Offer contingent on appraisal if you're going financing3) Seller to provide copy of current lease agreement4) Seller to provide a rent roll/tenant ledger with proof of payments received5) Seller to provide copies of 3 previous months of any utilities paid by the landlord6) Seller and tenants to fill out Estoppel Certificate.

There’s also future development potential given the size of the land and zoning (allows for medium density development up to 8 units per property).What would be the best way to structure financing for a deal like this?

We also tried out REI Blackbook but not did not like it because was pretty clunky and hard to figure out.Now, being that we are not real estate specific, we have a general contracting business in Chicago; we have a pretty robust system built out in HubSpot, which we LOVE and definitely allows room for more growth!

This approach allowed me to close the purchase quickly and provided the flexibility to fund the mid-level renovations needed to bring the property up to rental standards.

They've made it very clear that you are not allowed to use their service for calling homeowners with distressed properties.

DSCR loans also allow real estate investors to secure financing based on property cash flow rather than personal income, which simplifies the application process!

Does quickbooks or any other software allow me to consolidate everything to one app and automatically input my accounting, with reports?

Whether or not you allow pets, guests are bringing them.