I learned so much along the way, including navigating the legal process needed to remove previous owners (squatters) who did not want to leave.

Even if one has to provide the education to some of the parties as to why a particular creative solution makes a win-win-win for all. 

The information provided is based on my experience and industry knowledge but should not be considered legal, tax, or financial advice.

If the seller files for bankruptcy, that will involve you in a legal proceeding.

.❌ Legal Risks – Chicago has strict landlord-tenant laws.

Your LLC set up in KS is for legal protection only.

If you live in the basement then you can legally STR the top in most areas.

Also keep in mind that many of these vacation locations have began changing enforcement and regulations for STRs so make sure to research a lot about pending legal actions and public sentiment of STRs in any market you want to enter and formulate several exit strategies to protect yourself in case there is a shift in the market there.

You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!

The owner, the lender or a third party?