As the CFO of developer, I’ve seen firsthand how stepping beyond your backyard can flip the script on returns, and I’d love to weigh in.You hit the bullseye with the Midwest—those 200-300% higher cash-on-cash returns compared to coastal markets are no joke.

-Rent collection and financial management is probably not at the top of the list based on some of the challenges that we hear about, mainly because if you are lucky enough to have solid tenants and low vacancy, this is easy peasy, but if you have some challenging tenants that default on payments, or the possibility of an eviction arises, it can be worth paying a management company to help guide next steps."

Automating check in, weekly rent payments and checkouts will be a huge step for us.

. - The smaller the job, the easier to understand using the material & labor steps above.- Larger jobs may require requests for more detail, so the above steps can be applied.Be sure to check your management contract for what you agreed to.

Admitting to myself and to others that real estate investing is something that I want to pursue with everything I have is a big first step for me.

Expanding to a 2nd or 3rd property is a big step.

Review your score and take necessary step to improve it if you are at 650 or below.  

However, if you inherit it through her estate, you receive a stepped-up basis to its fair market value at that time, reducing tax liability upon sale.Gifting it now has no immediate tax consequences unless its value exceeds the $18,000 annual gift tax exclusion (2024).

They will want to pass on the stepped up basis to their descendants and you want them not to. 

I’m just taking it one step at a time, learning as I go, and trying to set things up the right way from the start.