But for straightforward setups, you can actually form an LLC directly on the PA Department of State website yourself, and it’s very cost-effective.For larger portfolios or more complex structures, some investors prefer going through a real estate attorney to ensure their LLC is set up to maximize tax benefits and liability protection.

I have come so far (daily personal Finance sheet, opened a small business, bough a home, and utilized as many tax strategies as best I can), yet I still feel so far from my freedom.

Consider investing in landlord-friendly states with lower property taxes and regulations.Good luck!

This has become a recurring issue.I'm also unable to enter the property with notice because she claims there are minors in the home.

You will need two years of your 1099 documented income to qualify for a loan as a 1099 employee, both years of taxes complete for them to formally pre-approve you most likely.You need to bank as much money as possible.

If the inexperienced investor knew how much work, effort, time, analysis, negotiation, organization, capital, and knowledge it takes to successfully find, identify, evaluate, and close on a property that fits the criteria that gurus falsely claim they see 100’s of every day, 99% of them would abandon their real estate dreams” and pursue ostrich farms, mink breeding, or setting up a “down line” to sell condensed cleaning products that their “upline” has an exclusive distributorship on for the southwestern quadrant of Bisbee, Arizona.  

The more you can tell inquisitive callers about the property, the more likely you will foster a “hot” lead.Tax Assessor’s WebsiteFinding cash buyers may be as straightforward or as complex as you make it; other times, it’s as easy as familiarizing yourself with a local tax assessor’s website.

I converted my STR back in December to avoid the newly increased Hotel Occupancy Tax (9% monthly) and to cut out my STR PM (10%/monthly).

High property taxes and increases in insurance are very real there as well.

https://www.biggerpockets.com/forums/51-tax-legal-issues-con...