.• If you want to get involved in syndications or passive real estate investing but you don't have enough in liquid cash for the minimum investment, you can use your retirement accounts like a self-direct IRA to do so!

While I’m not an experienced investor myself, I can share my perspective as a real estate accountant, which might help you weigh your options.1.

Your strategy of re-marketing a 3-bedroom plus office as a 4-bedroom home office is a smart way to boost rental demand and rental income without major renovations.One insight I’d add is the potential benefit of exploring cost segregation studies once you build a larger portfolio.

But I have started to take my real estate endeavors serious over the last year and my studies much more serious over the last 5 months and although I may not be ready, I am ready and eager to take that leap of faith and try and put what I know into affect with the right people and obtain my first property in the West Texas area via House Hacking or a buy and hold deal within the next 60-90 days. 

I've kicked the tires on mid term rentals in Champaign-Urbana on account of growing up in the area.

Hello Tyler, As accountants who specialize in STR and REPS, we cant promote ourselves directly on BP as its against the forum rules.

If you're still worried go with the accountant in the state you are most worried about and plan to own the majority of your properties in.

An Attorney might tell you each LLC needs there own and an account might say they can all be in one because they are both looking at it from different angles.It's best to work with your attorney and accountant together to come up with a plan that everyone is comfortable with, you most importantly.I would echo @Errol Graham.

Then there is going over the accounting data for the property, and Making accurate projections, As well as having a good lender who can close and qualifying yourself for the lenders qualifications, which may be different said the loans on your other properties.Good Luck!

There is no magical way for him to receive the income either, you can simply just pay it to him from the bank account.