I guess my question is, how do you determine which starting plan is best for you or which type of purchase is best for you?

What type of investing are you looking to get into?

I have a real estate attorney that I have worked with in the past and will work with him on this also.Does anyone have advice on next steps and/or examples of terms, operating agreements, types of LLCs ect. ?

He was new in town, culd not afford nice all on his own, needed a roommate and this type of real pairs people up.

As Nick said, just confirm prepayment penalties for your loan type in case you want to refinance.In IL, duration of prepayment penalty is limited so the penalty can be higher at times

This gives much better diversification protection across geographies, asset types, strategies, investment subclasses etc. versus putting all the eggs into one basket.The downside is that it's not for everyone, and a person has to be comfortable with turning over control to someone else.

Benefits of the ATI ExemptionThe ATI exemption offers several key benefits:Reduced Tax Burden: By lowering the assessed value, property owners can significantly reduce their property tax bills, freeing up resources for other investments or operational expenses.Encourages Investment: For real estate investors, the exemption makes South Carolina a more attractive market by reducing the tax impact of property acquisitions.Substantial Tax Savings: The reduction in taxable value can lead to considerable property tax savings over time.Multi-Year Benefit: The exemption can apply for up to five years after the sale (based on SC revaluation cycles).Wide Applicability: It’s available for various types of properties, including multi-family projects, commercial properties, and even vacant land for development.Who is Eligible for the ATI Exemption?

Permits are basically only pulled for electrical and plumbing of if they get caught.. its the only way to make the rental houses cash flow in many of those markets.On top of that licened contractors many times simply wont work on those type of properties there is no money in it for them..

I will go back and re-evaluate what type of agent I would like to work with next.Is there a good checklist that I could use to find a good agent?

Additionally, FHA usually isn't the strongest type of financing and sellers don't like it as much because there's a lot more financing restrictions and the house needs to be pretty much turnkey.