Happy you joined the party.. how soon do you plan to start crunching numbers on a potential deal?

Tip: Take a couple videos of the place fully furnished before anyone moves in and send them as video tours to potential tenants on FurnishedFinder when they ask to see the place.

To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.

Buyers and sellers should consider some amount of closing money be held in escrow after closing to cover potential problems with the non-responding tenants.Does anybody have any experiences to share with successful use of a Tenant Estoppel Letter, or times they wish they'd know about this tool before entering a Purchase and Sale Agreement?

If you see at least a few zoned in the designations you mentioned above, that's potentially a good sign that you can get support from the local Alderman's office, and approval by the ZBA (zoning board of appeals), to rezone.

When filing the LLC return, it is important to ensure that these liabilities are accurately reflected on the balance sheet.However, it's essential to note that distributing the refinance proceeds among LLC members could potentially be viewed as a taxable event if there is no intent to repay these amounts to the LLC.

Waiting until the 1-year period ends avoids potential loan issues and simplifies things.

Why ask: This helps you understand how many people have succeeded under their mentorship, giving you an idea of the potential outcomes.

For our second STR, we are currently researching Sherman, potentially / ideally, a less expensive duplex that we could rennovate and self manage from Dallas with workers coming to the area in mind. 

For southern states, you might want to look at smaller markets in Alabama, Mississippi, or parts of Tennessee and Arkansas where properties are still affordable and cash flow potential exists.