Umbrella insurance provides substantial liability protection at a lower cost and avoids the administrative complexities of managing an LLC.

I decided to end the tenancy of one of the tenants. 

If you do go the seller finance route, consider asking for a right of first refusal option in the event the seller ever decides to sell the note. 

SDIRA has been extremely accommodating in the setting of an eviction that occurred because the manager that they previously used neglected to tell them.

Maybe it isn't worth it, but you should consider the numbers and decide...that could push you towards purchasing another rental. - You mentioned paying down/off a rental and needing to consider the tax implication.

I'd decide what is reasonable in the market that you want to invest in and create a strategy around that- not what a stranger (who, very likely has never done a deal) says on the internet.Best of luck- happy investing!

These can provide good cash flow and are easier to manage than larger commercial properties, especially when you're just starting out.Also, when I was starting, I found local meetups super helpful.

Be sure to research rental demand, zoning laws, and financing options before deciding.

You can't even drive by and look at a tree before you decide if it needs to be trimmed up or cut down.2.)

However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.