Investing in real estate can be highly rewarding—but it also comes with risks.

With 34 years of real estate investing experience, I’ve been involved in everything from owning rental properties to flipping.

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 Purchased off-market from a tired landlord, this fix-and-flip involved renovating a distressed property with outdated features and deferred maintenance.

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 A fix-and-flip project purchased off-market from a tired landlord involved buying a distressed property with significant deferred maintenance.

-Transfer the property into an LLC – This may allow me to take ownership while potentially avoiding property tax reassessment, however this sounds like an involved process-Establish a living trust for my aunt and mother – The trust would specify that I inherit the property upon their passing and provide step up in cost basis but i'm worried that the living trust can be modified to have me removed (who knows what can happen) - My mother is somewhat volatile.I would like to live in the property and my mother will live in her second property with her husband. 

I plan on starting out next year with a small plug and play solution to have minimum risk.

Take a break from larger multifamily acquisitions for now, as they may not align with your current capacity or risk tolerance.Whatever you choose, know that setbacks are part of the journey, and you’ve already gained skills and insights to make smarter, more deliberate moves moving forward.

I do think MT might see better activity, but also more owner involvement and the added intricasies of furnishings, etc, so if you're willing that might be the better route.

Everything comes with a risk but I want to hear everyone's opinions for both states in the long run, thanks in advance It really depends on your style and goals and type of investing.I invest in multiple states and there can be some substantial differences.First decide if you want to do Flips, Long Term Rentals, Short Term Rentals, Shared Housing, Multi Family, Land, Tax Deeds, REITs, Syndication, Commercial and then decide. 

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much.