Maintain detailed records to substantiate deductions for materials, labor, and expenses, which can significantly reduce taxable income.While an S-Corp provides tax savings, it also requires payroll management and compliance with formalities, making it essential to stay organized or consult a tax professional for ongoing compliance.This post does not create a CPA-Client relationship.

Having a person answer the phone costs the PM company substantially more than operating a support button with a delayed response.

Success requires substantial local resources and expertise.

The Pocket Communities are growing substantially as more city municipalities are understanding the concept.

Future Appreciation: Holding onto the property allows for potential appreciation over time, especially since it’s in a neighborhood with homes ranging from $500k to $1.5 million.Pros of Renting: Steady Cash Flow: Renting the property, especially with an ADU, could generate substantial monthly income, especially since there’s no mortgage.

Let’s break it down and explore how you might approach this idea, the challenges you could face, and ways to structure a deal that could work for both you and the landlord.Why the Landlord Might Be Open to SellingThey’ve moved out of state for health reasons and don’t have family nearby anymore, which might reduce their emotional attachment to the property.The idea of simplifying their life and pursuing something like sailing around the world suggests they could be open to letting go of the property if it helps them achieve their goals.With significant equity or potentially owning the property outright, selling could provide them with a substantial cash windfall to fund their future plans.However, their belongings on the property could signal hesitation to let go or simply a logistical barrier they haven’t addressed yet.

Quote from @Jonathan Baptiste: I am doing my first deal that needs substantial renovations.

Everything comes with a risk but I want to hear everyone's opinions for both states in the long run, thanks in advance It really depends on your style and goals and type of investing.I invest in multiple states and there can be some substantial differences.First decide if you want to do Flips, Long Term Rentals, Short Term Rentals, Shared Housing, Multi Family, Land, Tax Deeds, REITs, Syndication, Commercial and then decide. 

In Georgia, it's relatively quick to evict, but you've lost substantial income before its over. 

My team traveled to Arizona to meet with the FlipOS team, who had recently raised substantial funding—$136 million in 2021, followed by $50 million in May, 2022 and an additional $100 million in August 2022.