We want to ensure the property is safe and habitable, but these expenses seem excessive.

This step ensures compliance with local regulations.From my experience, when I had an STR in Cleveland, I only did the regular rental registration, so make sure you complete both registrations to avoid any issues.Cleveland is a popular spot for STRs, especially for visitors coming for sporting events and medical purposes.

Hi Caleb,From our experience, when flipping properties the most efficient ways to spend your money are the following:Focus on kitchens and bathrooms, as these areas consistently provide the most value for your investment. 

And a lot of start-up companies are migrating to this city as well, because of the efficient costs of living, the OSU campus that has thousands of students graduating and looking for jobs locally, and the availability of land.

I believe you have to ensure all current tenants have the right to decide first whether they'd want to purchase the units prior to the conversion.

Accounting and Bookkeeping: Since we plan to build a diverse portfolio, we want to ensure we’re setting up our accounting systems correctly from the start.

Therefore, you likely wouldn't be able to use the 1031 exchange to purchase part ownership in the commercial property LLC.It’s best to consult a 1031 exchange expert or tax advisor to explore your options and ensure you're following the correct rules.

They pull any moisture they can get out of the air, so if there are any small cracks or openings to outside air they will just continue running, filling up their tank from the moisture in the outside air and not working efficiently at drying out the space you’re trying to dry very well.

But you can shape your portfolio to become more passive or cash flow efficient or less exposed to local laws without having to pay the high costs of exit.  1031 exchanges allow you to move from any type of real estate anywhere in the country to any other type anywhere in the country.  

I have maybe 3 or 4 states in mind, I am trying to see where I could move that would be the most cost efficient for me.