Since they're responsible for the property, they’re selective about who they take on, but I can refer you to them.

Sister: Wants to make sure her parents are not taken advantage of.

Sadly I think not all attorneys here know the advantages of using out of state LLCs and or out of state statutory trusts.

The government has made Real Estate investing an unfair advantage versus other investments.2. 

Make gradual rent increases to get them back to market rates (research the legal way to raise rents).If a friend or family member acts offended that you're finally taking the investment properties serious, that means they know they've been taking advantage of your ignorance. 

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

However, alternatives like a Self-Directed IRA (SDIRA), a 60-Day Rollover, or a Roth IRA Conversion can help you avoid penalties.A SDIRA allows you to invest directly in real estate while maintaining the tax advantages of your IRA.

Using a self-directed Roth IRA offers tax-advantaged growth, but choosing the right account type is essential.

The BRRRR strategy, which stands for Buy, Rehab, Rent, Refinance, Repeat, focuses on long-term investment, while the Fix & Flip approach involves purchasing, renovating, and selling properties for a profit.Investing in Airbnb rentals presents a distinct set of challenges, requiring active management and a thorough understanding of local regulations, but it also has the potential for higher returns.Here is a concise overview of the advantages and disadvantages of each method:Fix & Flip:Pros.- Potential for quick profits - Enhances property value - - Adaptable to market trendsCons.- High risk - Time-intensive - Requires substantial capitalBRRRR:Pros.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.

Since you are planning to use a lot of cash anyway, you may be able to leverage an FHA loan and put down just 3.5 percent on a duplex, triplex, or fourplex, as long as you live in one of the units.The advantage of this strategy is that the rental income from the other units gets added to your income, which means you could qualify for a larger loan and end up with a bigger, income-producing asset.