@Isaac Ballew I graduated back in the stone age with a finance degree and found my way eventually in Real Estate after some corporate jobs. 

@Tanya Maslach,When you take a distribution from an IRA, you are subject to ordinary income tax, plus penalties, if you do it before reaching retirement age. 

Also I am 23 years of age, I deem it necessary that you should know this before hand as I don’t have time to waste.

This documentation can be invaluable if any issues arise later.What to Do if Applicants Don’t Have ReferencesSome applicants won’t have any—or limited—rental references, usually due to their age or being prior homeowners.

Fast forward twenty years and (maybe a $100M in cumulative real estate transactions later) and I'm still advising investors on asset management, typically focused on real estate as an agent OR mortgage broker, but conversely with clientele of my own age group with similar goals. 

College kids and someone of that age under the same roof tend to butt heads....Here are some key things I've learned after 4 years of landlording/house hacking: 1.

New Jersey has the 1974 Anti-Eviction Act.

I saw from a young age that, if you want something, you could just get money from the bank.

It allows a substantial portion of the asset's cost to be deducted in the first year of service.In 2023, the bonus depreciation rate is 80%.In 2024, it decreases to 60%.In 2025, the rate further reduces to 40%.COST SEGREGATION:Cost segregation involves dividing a property into its individual components for tax purposes.Some parts age faster, like carpets or paint.Your CPA can use this info to more accurately depreciate elements of your property leading to potential tax savings.BASIS:Your basis is the initial price that you paid for your property, including any expenses or improvements.Knowing your basis is crucial for tax purposes, as it's used to evaluate depreciation & determine the capital gains or losses if/when your property sells.LAND VALUE:This is how much your land is worth without any buildings or improvements.Land doesn't get old like buildings, so you can't depreciate it.

Many in the building industry had hoped the next generation of flippers would embrace building performance & remediate the ever aging poorly performing housing stock.