@Paul Cijunelis  thank you for this response Paul, well I firstly got interested in CRE when one of my high school teachers told me about how he does it and that kind of started my interest, I really love CRE because I've noticed it's a very lucrative and risky business like high risk high reward, but not just that I really love seeing a bunch of properties being brought back to life with renovations.

So we shall elucidate five myths and truths about investing in them.Myth 1: Distressed Properties Are Always Money PitsMost people think that distressed properties require major renovations, which wipe out profit returns.

That being said, I had competing issues. 1) my wife and I are buying a new primary residence (much to my chagrin), and 2) in december, we bought a condo rental that is currently being renovated (a much lighter project) and that process is also a little stressful.   

With single family investing it's about finding properties at 50-75% of "retail prices" in a neighborhood and then renovating them to improve them to "force equity" and then refinancing to pull out cash - essentially a BRRRR.

Hi All, any input on renovating a house and possible tax exemptions under an LLC?

A good realtor that has done house hacking, renovations, off market deal finding, and owns these types of properties as well would be the perfect mentor.  

It's an easier way to get your feet wet as a landlord without the stress of handling major renovations.

John Hickey renovations look great!

I've done fairly big renovations where in most cases, Im replacing almost everything in/on the house.

We have purchased a property for flip that's currently under renovation.