You'll typically need to set up your account and get familiar with the process of working with the local housing authority.

@Greg ReeseMost small investors will benefit by having the LLC created in the state where the property is located at.Creating an LLC in a state like Nevada, Delaware, Wyoming may be better for the big players if items such as charging orders, business friendly case law, anonymity are important to you.However, be mindful that setting up LLC's in those states will add to your costs as you may have increased annual fees for annual LLC fees + registered agent fees.

Contents (Personal Property): most homeowners policies give a set % of the Buildinglimit for Contents.

In the spirit of Goal Setting, here are my top 5 Tips for ensuring you set goals with the highest probability of success. 1.

What goals do you have set for this year?

How to Track Regulatory ChangesStaying up-to-date might seem daunting, but the right strategies and resources make it manageable.Key Resources:Local Government Websites: These often publish updates to zoning, rental, and housing codes.Real Estate Associations: Organizations like the National Association of Realtors (NAR) or local landlord associations offer regular updates and seminars.Newsletters and Blogs: Subscribe to reputable legal or real estate blogs for insights into upcoming changes.Professional Advisors: Build relationships with real estate attorneys and property management professionals who can provide guidance tailored to your market.Pro Tip: Set up Google Alerts for terms like “rental law changes” or “landlord regulations” in your area to receive real-time updates.3.

If you control how they perform tasks, set their hours, or provide tools, they should likely be a W-2 employee, requiring you to withhold taxes and comply with payroll regulations.

I think having a balanced budget would be ideal where you allocate money into buying another property and money set aside for renovations.

This step by step process is all laid out in Scott Trench's book "Set for Life".

Did you set out to retire with real estate, did you have a goal or an amount you wanted to make?