If you go the direct-to-owner route, commit to doing consistent outreach for at least a year or, better yet, at least 2 years.

Yes, Oklahoma is a great market to consider, especially for multifamily properties:Affordability: Oklahoma City (OKC) and Tulsa have duplexes and small apartment buildings within a reasonable price range.Landlord-Friendly Laws: Makes property management less stressful.Stable Cash Flow: Properties in Oklahoma often meet or exceed the 1% rule, providing consistent rental income.Growing Economy: Both cities are seeing population and job growth, boosting demand for rentals.Tips for Getting Started:Do Your Homework: Use tools like BiggerPockets calculators to analyze deals and ensure cash flow.Focus on Neighborhoods: In OKC, check areas like Yukon, Edmond, or Midwest City.

With careful planning and consistent effort, you can create a portfolio that aligns with your long-term goals.Good luck!

Communicate expectations upfront—because once they start double-parking or treating the place like a frat house, it’s game over.Cameras, Cameras EverywhereYou’d think adults wouldn’t steal each other’s food, right?

In a way, STR is a hybrid because while real estate is part of it, you are really running a one-room hotel.So if you are an aspiring real estate investor, the first question you should ask is where do I have a consistent source of free cash that I can use to invest?

For the next 10 months (40 weeks) you spend a fairly reasonable 5 hours a week marketing, communicating with guests and your property manager and bookkeeping.

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?

And don’t overthink—your first deal doesn’t have to be perfect; it just has to get you in the game.You’ve already taken a big step by asking for guidance, so keep that curiosity alive and stay consistent —let’s crush it!

My question again stems around using seller financing to allow them to receive a consistent monthly pay of X amount and delay/lower their tax bill in the short term instead of going through a lender to borrow 800k+ causing my mortgage to be significant part of our income roughly 40-50% of take home -  which we are approved for LOL.

Investors here consistently see properties that have cash flow from day one, and the barrier to entry is much lower than in California.From a tax and landlord standpoint, Tennessee is also attractive.