Getting an LLC in place from the start can provide peace of mind and give you a chance to familiarize yourself with the process before expanding your portfolio.

I recommend you go to the source and educate yourself on all the landlord-tenant laws, particularly in an increasingly regulated state like Colorado.Here's a good starting point: https://doh.colorado.gov/landlord-rights-and-responsibilitie...

However, if all they offer is general info, I think you can find most of it yourself in Bigger Pockets and other online sources.

It is my understanding that the new owner will have the house at the cost basis of my purchase price, for calculating capital gains taxes or depreciation.For gift tax purposes for you - FMV.For capital gain tax purposes for the recipient - your original basis/purchase price 

I would appreciate if you could give me some insight what would you do if you were in my shoes?

For those who’ve used it, what strategies or sources have worked best for you when covering the difference between your loan and the total project cost?

Be honest with yourself about whether you’re ready to prioritize your education and growth.4.

They do this on purpose so new people get tripped up in the process and quit.

If you do this, make sure you have clear intentions and written terms each party agrees to.  

Me and my wife have decided to sell our first duplex deal after 4 years of holding it we have built over 250k of equity wow !