As a side note, FDIC insurance protects depositor money, not debt.

Consult a tax professional to optimize deductions and explore strategies like Real Estate Professional Status or short-term rental loopholes to apply depreciation to non-passive income.This post does not create a CPA-Client relationship.

Here is my two cents: When hiring a contractor for substantial renovations, start by researching local licensed and insured contractors with solid reviews.

We're open to other strategies, but believe that sounds the most ideal so far. 

Questions they will have is who is the owner, what experience do they have, is their key person insurance against them etc. 

Are you focusing on long-term rentals, or are you still exploring different investment strategies?

While we don’t have state income tax here we do have the hurricane tax that comes with high insurance premiums and little real insurance benefits/help when it’s needed.

I believe this approach provides the best cash-on-cash return when starting out.I began investing in Columbus in 2017, and I've engaged in both BRRRR strategies and turnkey investments.

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

I met with Wicked Smart today and was told they help you set up a lead sourcing system, help you structure creative financing - which is essentially lease option/purchase, subject to and owner financing....all strategies I am interested in learning more about.