I have been eyeing a few brokerages around that general location and was wondering if anyone familiar with the area had any recommendations regarding which brokerage to pick, as there are quite a few to choose from.

If you choose to set it up in Illinois (IL) and then file as a foreign entity in MI, you will end up paying two state filing fees, which unnecessarily increases your costs.

He also connected me to his team of experts who were able to guide me through the process of choosing the right rental property.

, maintenance (5%), and PM (10-12%) if you choose to not self manage. 

I would choose the strategy that best fits your strengths (unfair advantages) and what the market in your area demands.

It's very possible that whatever change might happen won't be in affect until 2026 also.It's also worth noting that any depreciation taken for the property for rental purposes doesn't become part of the Sec. 121 exclusion should you choose to take that in a future year.

SFR with ADU is no problem. but if you're considering adding an ADU to a multifamily property, consider the limitations you're creating on your back-end buyer if you decide to sell, or your own financing if you choose to refi. 

Plus, we’re an Intuit QuickBooks Solutions Provider, so if you do go that route, we can hook you up with a great discount on your first-year subscription, regardless of which plan you choose.

My credit was pulled twice (currently sitting at a 700+ according to Experian) but I don't know if this would affect my score or anything when it come to actually choosing a property and locking in a rate.

Most importantly, choose a market that aligns with your goals!