Co-living provides built-in diversification, lowering your financial risk compared to single-lease rentals.5.

You could tap the $400k of equity in your primary, but that's a slippery slope with the little financial discipline you appear to have and could quickly lead to bankruptcy.

We care about our investors' success, but it's ultimately up to each investor to take action to accomplish their goals however they do it!

Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.

First question I always ask is who audits your financials and who does your books and send me what your reporting looks like.

If the prospects look financially shaky or sketchy, I ask for the name of a co-signer - and collect payment for a background check on them.Verbally, I also ask when they are interested in taking occupancy, and I tell them the application will be made part of the lease agreement - that I can evict them if they've lied in their application.

Prioritize your financial stability.

And than, the ACTIONS.

The decisions and actions you make today can lead to incredible long-term benefits, so it's great that you're starting now.A good starting point is connecting with a lender that aligns with your goals.

For years law enforcement has had there hands tied, they have been denied ability to make enforcement actions.