Could VRBO users from Michigan provide some clarity about the topic of sales tax/lodging tax collection and payment to the state.

The BRRRR strategy is a systematic approach to real estate investing that revolves around five key steps:Buy: Purchase a property, often below market value, that has potential for appreciation and improvement.Rehab: Renovate the property to increase its value, make it livable, and improve its rental potential.Rent: Find reliable tenants who will pay rent, allowing you to generate consistent cash flow.Refinance: After the property is rehabbed and rented, refinance it to pull out the equity you’ve built through the renovation.Repeat: Use the cash obtained from refinancing to fund your next investment property, starting the cycle again.Step-by-Step Breakdown of the BRRRR MethodLet’s take a closer look at each stage of the BRRRR strategy to see how it works in practice.1.

@Tiffani HollisFor a long-term rental, I’d avoid used dishwashers entirely—repair costs and reliability issues often outweigh the savings.

Also, conventional lending will NOT allow you to get gift funds OR borrow unsecured funds to help fund a down payment on an investment property.

Repayment options can be more flexible like in my case I do everything on accrual this really helps flippers when they dont have to make monthly payments.

I have some of the required funds in a HYSA, but will most likely need to draw from another account and I'm curious which method is the most efficient in terms of taxes/capital gains, penalties, loan repayments, etc.Based on my previous transactions in the market, I estimate ~$45k cash to close: $20k for the down payment, $15k for closing costs and prepaids, and $10k of starting reserves.

Now that I am in position, I would like to place a mobile home to generate some passive income, but I don't want to use my savings for the down payment.

.$150 x 12 months = $1,800If you put $45,000 into real estate as a down payment, you are looking at a 4% cash on cash return.I would consider this decent.If you put $20,000 into the deal, the cash on cash return is higher and its better.If you put $200,000 into the deal, the cash on cash return is lower and considered worse.However, cash on cash return is not the only return you should consider, you should also consider appreciation.My benchmark is trying to achieve atleast an 8% return between appreciation and cash flow.Best of luck!

Do not take any more partial payments.

@Tyler Speelman Your strategy to assist your sibling with a down payment while minimizing tax liability is creative but comes with complexities.