At a high level, this is generally the path people take - we see a lot of people have success in this route - start building the portfolio with banks, low down payments, and then **generally** when you hit around 5 or so properties - it starts to make sense to switch over to LLCs, its too hard to qualify/deal with paperwork of banks and switch towards private lenders like DSCR Loans - (LLC friendly, easier) to scale past 5 or so.

However, you’ll need to handle all the paperwork, figure out which forms to file, and stay on top of compliance requirements like annual reports.

Originally posted by Joe GoreA long time ago one of my hard-headed friends here in Dallas bought a note from a note broker and only got half the paperwork which did not include the original loan application and thought they tried to foreclosure, and the judge would not allow it.

(Inspectors are generalists, so specialists are essential for plumbing and electrical issues in older homes.)Structural Concerns: If potential structural damage is spotted, hire an engineer to assess it properly.Be Diligent and Proactive: Old homes often require extra due diligence.

It was essentially a half-done, bad flip that didn't sell as expected.

This is thanks to the essential risk-lowering benefit of diversification.Sadly, most people are 100% financially dependent on what's happening in their own country.

1) I'll put the summarized list of MP activities at the end, but generally speaking the way to think about it is: "Is this activity/task essential for the operations of the STR?

You essentially nailed it.

Deep knowledge of tenant segments and their behaviors is essential, and this expertise comes only through a good property manager.

It essentially states that the tenant acknowledges there is no new mold in the home.