I am starting to become involved in real estate investing and I am looking between two cities in Ohio to purchase my first property (hopefully a duplex).

The requirement to do this generally involves an experienced GC signing on the borrowing entity as a 20+% owner thus making them a signatory on the loan and responsible for the debt which in most cases is not very easy to find.

Since joining this club I have a new attitude at work and have received a promotion every year since I have been involved and closed some deals on the side.

I think investors need to have the correct expectation going in or they will be disappointed regardless of who is involved.

Now more than ever, I am seeing offers required to be submitted through a portal where the listing agents want no business being involved with up front negotiations.

And I also see many questions popping up about running a short term rental business, which to me is more of a business than an investment although it does involve an investment in real estate. 

Have you ever done this or been involved in this?  

Back then, the market was more stable, interest rates were below 4.5%, and distressed properties sold at significant discounts.Today, distressed properties often sell at a premium, and cash-out refinance rates are above 8%.The best BRRRR deal I can find today involves buying a property with cash, investing in the rehab with cash, pulling out 75% of the ARV and breaking even on rent and mortgage.

What paperwork needs to be involved if IRS asks?

You’re going to deduct your tax prep, your internet, your cellphone, your computer, your tablet, your mileage if you’re involved in the properties, your home office, etc etc.