But otherwise, your renovations will take months longer and end up costing more than if you hired professionals.

Curious if anyone has had success (or failure) qualifying for RE Professional status with an STR, even if not self managing?

To be a reliable and successful Private Money Lender, focus on building strong relationships with borrowers and real estate professionals, thoroughly assess each investment opportunity by conducting due diligence on the property and the borrower's financial background, and establish clear lending criteria to mitigate risk.

Readers should seek professional advice.

It is important to consult with a real estate tax professional to understand the tax implications and requirements of a 1031 exchange.Additionally, you can defer paying depreciation recapture taxes when selling an investment property and buying a similar one.

Readers should seek professional advice.

It elevates the level of commitment and professionalism of the group as a whole.I explored all the other educational groups out there before finally settling on J & G because they felt the least "cultish" and the most like a "family".

You might consider (Check with your tax professional) to convert any pre-tax funds, to a Roth IRA.

It’s always a good idea to consult with a family law attorney or child support professional for guidance on accurately calculating rental income and child support payments.Check Your Local And State LawsChild support will be calculated differently depending on the state where you live.

Remember, I'm not a CPA, so consult with a tax professional to get the full picture based on your situation.You’ve got the right mindset, and with time and strategy, you can replace your current income and hit your goals.