Go to local real estate investor meet ups.

My question is: between now and when I make that first investment, is there a limit or tax traps to watch out for in deducting expenses as I set up my entity structure, pay for software tools and research materials, and (most notably) travel to markets to do market research, meet with realtors, look at properties, etc.?

It seems like there’s an opportunity here for the right buyers who still believe in BRRRR.Curious to hear from those who’ve been in the game longer—do you still do BRRRR, or did you pivot?

The fact that you evaluated whether to sell or do a cash-out refi shows you’re playing a long game and keeping your options open.

Remember, it's not about meeting all the right people; it's about meeting ALL the people.  

As long as the ADU is under 900 sq. ft. and meets the state building code, there will be no variance or special permit needed, so no ZBA or neighborhood meetings.

I'm new to bigger pockets and more importantly I am new to the real estate game.

With a 1031, you would have to meet stricter timelines (identify a new property within 45 days and close within 180 days) and use a qualified intermediary.Recommendation: The 1033 exchange is likely the best route if you’re looking to reinvest and defer capital gains, as it provides more flexibility.This post does not create a CPA-Client relationship.

Now, I'm considering whether it makes sense to create a LLC and "sell" the SFH to the LLC to take advantage of Section 121's capital gains exclusion, as we still meet the 2 out of 5-year rule, and to potentially increase depreciation value.Has anyone gone through a similar situation or have advice on the best approach?

I would love to meet and network to people in South Florida , and find a mentor or someone who has taken a similar investment route that I am doing from flipping to owning rental properties.Really just meet likeminded people.