I see a lot of new investors buy something turn key and end up either over paying or due to the market not being able to refinance for 5 years.If you have any questions feel free to reach out or email me I enjoy helping BP members.

Here it would be 25% down ($275k)A balance of $825k at 7% (or higher) $5,490/mo, figure $250/mo insurance, $500/mo property taxes $6,250/mo. 

Oftentimes the "immediate and highest return" evaporates once you get into it and start dealing with various issues that weren't addressed upfront or due to location (harder to fix). 100% agree with you!

This can get technical, and it is case by case, to be discussed with your tax accountant.

As long as you paid a contractor or someone who’s not an employee $600 or more in a tax year, you are required to issue them a Form 1099, regardless of whether you paid them via cash, check, or another method.

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.

Suggestions I would make starting out a cross border tax advisor accountant is invaluable. 

If you’re concerned about paying personal capital gains tax, remember that flipping the property means you’ll take the profit all at once, while with BRRRR, you can defer some taxes and have the property generating income.So, here’s what I’d do in your shoes:If you can make a decent profit flipping and then use that cash to roll into your next investment, you might be better off taking the cash, at least for the first project.

Failure to pay the utilities when due is a lease violation and will result in a notice to pay or vacate.

Finally, make sure to do your due diligence before purchasing in Killeen.