I just need to be able to track expenses and allocate to each project.

I’m especially interested in house hacking as my first investment since it seems ideal for building cash flow, reducing expenses and gaining experience without heavy initial capital.Questions & Market Focus:I'm still learning, but I’m starting to research these four markets to understand which may be the best fit for house hacking.

I guess, just like in residential, sometimes its easier and less expensive to just bulldoze and start new then trying to do an addition. 

Both are in a small market in Illinois, where I have family involved in real estate and construction, so it’s been a great way to jumpstart my multi-family journey.As I'm looking to expand, I’m particularly interested in out-of-state investing, since the DC area where I live is a bit too expensive for my investment goals.

But get an LLC and rent from it personally...any cleaning expenses, paying your mortgage etc. come from the LLC's bank account, any outside money that you need to fund the account will be a capital contribution and then you will be able to do cost seg on that property.

Plus, equipment can be a hefty expense and may need repairs over time.Instead of a conventional treadmill, I would consider a walking pad paired with a height-adjustable desk-- its cheaper and can be hidden/discreetly tucked away.

Investors often think that blanket loans will be cheaper but in fact there would be very little if any savings from a closing costs standpoint, and the terms of the loan would make it much more expensive overall. 

We asked them to address 5 items that we saw as the most expensive and/or critical.

If you’re going to be doing land deals, consider opening a business checking account; it’ll keep your personal and investment expenses separate, which can help a ton when tax season rolls around.

HELOC money is EXPENSIVE money.