I’m also an active member of the local landlord association in Joliet (JRLA), which has been a great resource for networking and education.

Momentum 2025: Virtual Investing SummitJoin me and hundreds of active investors for an immersive 8-week virtual summit designed to help you identify opportunities, avoid costly mistakes, and build lasting wealth in 2025 and beyond.

It's been a long-time dream to do a new build and so I'm actively working to find land and begin the process.I agree that the profit margin you post seems very small.

However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.

S-Corps are generally for active income (think Flip, Real Estate Agrent) andLLCs are generally for passive income (like rentals/STRs)The LLC and insurance is what investors are calling “Asset Protection” and it’s something you’ll want to invest in.

Purchasing the LLC gives you ownership of the property, but it also opens you up to additional legal exposure since the entity has been active, and there is no way to really know for sure what else they used the LLC for.

Just shop around online, look for properties similar to yours, add them to favorites and watch them to see how long it takes for them to rent.

(You are automatically an affiliate when you sign up) That being said, I'm not a very active affiliate.

Thanks to everything I’ve learned from the podcasts, books, and this community, my wife and I currently own:A triplex in MaineA single-family rental in San AntonioA single-family primary residence in Las Cruces, NM, which will become a rental when we move in a few monthsFor context, I'm an active-duty Army officer with about 12 years left until retirement, and my wife works for a university in Boston.

But it's rapid price growth and sales activity could indicate a more volatile market, with the potential for corrections if demand slows as affordability becomes an issue.