In Texas, there’s no state income tax on rental income, but LLCs have formation and annual fees.This post does not create a CPA-Client relationship.

Purchase price: $540,000 Cash invested: $108,000 Sale price: $540,000 My client bought a condo in Lincoln park.

I'm in Phoenix as well, started out house hacking and have helped out a few other clients to do the same. 

I live in the Research Traingle areas and has been aggressively investing in real estate here as well as helping my investor clients invest in the region.

I'm looking at expanding into out of state and just trying to figure out what questions I should ask/data I should gather to make an informed decision!

These gatherings are a great way to meet wholesalers, flippers, and other investors willing to share their knowledge.Offer to add value.

Quote from @Jeff Roth: Hi Lina from Texas-Congratulations on your interest in investing in mid-term rentals and you are wondering how and where to get started.I get this question frequently from investors.Sometimes and investor is looking to keep their property cashflow positive as insurance and taxes have squeezed cashflow by turning units into mid-term or short-term rentals.First off, ideally, the property will cashflow as a long-term rental should something disrupt the mid-term rental model.You will also want to have the property be near where there would be a demand for mid-term rentals (hospitals, universities, research centers).Monthly rents for mid-term rentals are about 20% (+/-) higher than unfurnished similar long-term rentals.There are property managers that will manage mid-term rentals for you and I always advise my clients to use property managers to keep their investment as passive as possible and for compliance issues related to Fair Housing Laws and local regulations.To Your Success! 

@Joshua ChristensenI agree with you that brokers are not experts in zoning, but this broker should have told his client to go to the zoning department to verify.

I can’t speak for other cities, but I have a handful of investor clients from NYC looking and buying over here in Rochester! 

They must provide quality service, or their clients won't want to pay the price.