As far as renovating a basment to be a  separate unit i recommend working with a licensed general contractor.

As a licensed realtor, I've come across many who claim to know the 'do's and don'ts' of this process, but I'm not always convinced these are the best practices.I've helped many families find their dream homes and now see the importance of creating multi-generational assets.

Get an agent complaint from the licensing authority and then you spend days, weeks, time, money fighting the complaint vs focusing on the business.Also in places like Keller Williams you can get paid profit sharing not only on the profits of the agents you personally recruit, but on their efforts as well, around the country and around the world. 

Do property management companies need a real estate license? 

Check with your agent to make sure they are licensed to write with RLI in the state where you reside. 

Short-term rentals would be the way to go but you won't get a license in the most popular areas.

Hi guys,Was hoping to see what biggerpockets members suggest I do as a newly-minted licensed real-estate broker who is looking to start in property management.

Texas is a great state to hang up your license and with property values increasing and rates on the edge of a breaking point. 

I am working toward my RE license and would like to begin as an agent by the end of the summer as a part time job along with my W2 so that I can put any income from that into paying down that HELOC and putting more cash aside for the next possible deal.I'd like to have 2-3 more rentals within the next 5 years so that I can transition from my W2 to full time real estate (is that realistic?

@James Lauer If the STR strategy is the only strategy that makes the property pencil, be sure to purchase in a market where (1) the use is allowed, (2) the use requirements are protected by in place permitting and licensing and (3) the permissions are transferable through a sale.