Hey guys,I live in Atlanta, but have my first subject to deal lined up in Peoria, IL.

@Bob Wolf we are tracking the YoY trends closely with MLS data, as opposed to the fear-mongering/ clickbait that's out there.

As soon as the year membership is up, I'm leaving.

I have two separate bank accounts (account "B1" and "B2") at the same institution. 

At this point we have a big land gain on the first after entitlement (more than 500k) and we want to setup the proper structure to raise capital.

Every REI has a starting point, a build up phase, and an exit phase (this doesn't have to mean out of REI...it refers to cash).The key to determining this is based on an investment plan, and where the REI is in that plan. 

Purchase price: $44,000 Cash invested: $75,000 This was a huge undertaking, but the risk reward ratio worked out great.

I posted awhile back about the new short term rental rules in San Antonio here: https://www.biggerpockets.com/forums/530/topics/1200417-new-...Wanted to share a brief update on my experience and some other helpful notes:The city is getting serious about these rules.

If you did finance some of the purchase using a non-recourse loan, then you need to read up on UBTI/UDFI and there are some taxation benefits that the IRA can achieve since it now owes taxes in that scenario.

I recently came in contact with a RE investor who is farther down the line in his career than I am.