I'd appreciate any advice on whether I should stick close to home in Florida or consider expanding to out-of-state markets.Thanks in advance for your insights!

When it comes to reporting this income, beyond the importance of being truthful on taxes, a few key questions arise:Are there any advantages to reporting higher rental income on your 1040?

Thanks in advance!

Hi Dermarquis,The BRRRR method is very advanced.

Thanks in advance!

That motivates them to report leaks, running toilets, or other issues.

Definitely want to utilize prospective tenants directly paying for background and credit reports during the application process. 

However, these are advanced techniques that are rarely as easy as they sound, and they all come with additional risks.

Or, would my money be better spent someplace down south or by a National Park that would have year round traffic.My goal is to have a place where my family can spend a couple of weeks during the Summer, pad my retirement a bit, and have a place to leave my kids.Thank you in advance for your input.

Thanks in advance for your insights!