One of my CFO clients just did this last year and got cashed out over $1M, which he's using to buy more properties.

The smart ones house hack and buy rentals, but the good ones know that their clients come first.

.: Quote from @Caleb Brown: I am an agent so of course I get a benefit when a deal closes and I help a client but I have also seen the money and benefit real estate provides.

Somewhat unrelated, but I do not allow BiggerPockets to do business with partners who require their clients to sign agreements or otherwise agree to terms that prevent them from leaving what they feel to be honest reviews on BiggerPockets.

Sub30k seems to fit this bill, although I recognize there is also substantial risk associated with it when done improperly.

I remember years ago our attorney reviewing one such issue for a client that was coming over to us. 

"The man who represents himself has a fool for a client" was said about attorneys, but it could be said about a new investor representing himself in a sales transaction.

Consulting a tax professional now can help structure ownership and financing efficiently, ensuring you take full advantage of deductions, depreciation, and potential tax-saving strategies like 1031 exchanges in the future.This post does not create a CPA-Client relationship.

I lend in 45 states and meet almost none of my clients since covid.

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.