The same skillsets apply to your question.

So, make sure YOU understand the copy & paste info below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Applying a value add strategies can get you to much much more equity rather quickly.

Keep in mind that strict rules apply, such as avoiding self-dealing, prohibited transactions, and personally benefiting from the property.If you’re not looking to involve your IRA directly in the property purchase, you could explore other creative financing strategies outside of your retirement account.

The only flaw I had was I purchased the property out right, where I should of applied for a mortage.

Applying that to RE investing, most would agree your first FHA loan should be a multi-unit house hack.

Until the conditional use permit is applied for, an operator of a short-term rental is required to apply for a short-term rental permit.

If you gift a house, the fair market value (FMV) at the time of the gift applies to the lifetime gift limit—not the amount you purchased it for.

There are a lot of good things about Wyoming LLCs, but the favorable Wyoming laws don't matter as much because the state you are in will apply the laws of the state the property is located in. 

Hello,  I'm a FHA / Conventional & Private Money mortgage underwriter since 2012,  If your a first time real estate investor and never applied for Hard Money or Private Money lending for funding, I would suggest to stay with traditional lending (conventional) until you get familiar with real estate finacing.