If the rental lease started 1/1/2025 it's likely it was technically in service in 2024. 

:)General question here: I invest in long term rentals in Memphis, but I live out-of-state in NYC, so I was wondering if anyone had any general advice about starting an LLC in my situation.Would you form the LLC in Tennessee or would you recommend forming the LLC elsewhere?

Due to prices, I started invested in RI in 2019 and now have 4 multi family properties.I would ask, why 20% down and not 3.5% (FHA) or 5% (Fannie Mae) if you up on occupying the home?

Local and just starting out. 

May be a good start for you and you wouldn't have to sell your business. 

That's annoying they changed it with no warning - Brandon would always talk about all the FREE tools they have on here for newbies to start practicing analyzing properties.

As you start closing deals, you will need to reinvest your profits into mailing lists and other scalable activities to grow your business.

Start with the address and details about the rental.Create a section for tracking the lease information.

If you're going to start in a market you're eventually going to live in, I think that's a stronger case for that market."

Start researching price to rent ratios in areas and see which area has the best combination of cash flow/place you want to live!