Essential for keeping organized records.Accountant – Focuses on higher-level financial strategy, tax planning, and compliance.

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

We do plan to flip, on-site.

I plan to consult a tax professional but before wasting anyone's time I would like to ask whether I can technically claim the property as a rental in 2024 even though our first contract started Jan. 1, 2025?

Do they come with subscription plans for maintenance ?

The markets open up if you are not planning on doing the management yourself.There are many markets that are growing in population and jobs throughout the country if you are willing to look at OOS investing. 

I plan to continue holding onto this property.

I'm planning to use that money for a downpayment  to buy a multifamily where I would live in one side and rent out the other side. 

@Chris HainsI use the House Flipping Spreadsheet (https://www.houseflippingspreadsheet.com/) to do the planning, analysis and estimating prior to purchase. 

do you know how to read building plans or permits?