Apparently there is good money in writing reports:U.S.Department of EducationInstead of improving outcomes for students, here’s where taxpayer dollars were going:$3,000,000 contract to write a report that showed that prior reports were not read by anyone$1,400,000 contract to physically observe mailing and clerical operations (to watch people type)

Do we focus on flipping, (currently we have actually been trying to do this, but we physically can't find enough contractors in our smaller market <100K population to do that much work).

You prpobably don't care about Ohio, but their requirements might be instructive.You can only file January 1 through March 31.

., as Chris noted, the required documentation will be outlined in the LP Agreement you signed.

Since the payment was deposited into your account on 1/6/2025, it would typically be considered income for 2025, even though the tenant paid it on 12/31/2024.However, if you use cash-basis accounting (which most landlords do), the key factor is when you physically receive the money, not when it was sent or owed.

@Ken Almira don't buy a Florida condo w/o checking that they've passed their engineering inspection and their reserves meet the new requirements.

This will require a commercial loan for you or the next buyer.

Most HMLs I deal with require a minimum of $10k equity (or 10%, whichever is higher) in each property.

It requires no money upfront, so you will join thousands of others trying to do the same in your market.

For example, a $200,000 property might require $2,000–$4,000 per year.