@Jorge Abreu You're absolutely right—success in real estate (or any venture) is built on mindset, systems, and resilience.

The property taxes will be on his Schedule A during the time the property was his primary residence, assuming he itemizes.

Try not to get overwhelmed as there’s a lot of information on BP and many avenues within real estate investing.When I was starting out, I was interested in so many strategies, but I discovered that I did my best when I focused on one or two and really built my knowledge around them.

basically if anyone has any tips when it comes to researching plots of land in order to make the right purchase i would greatly appreciate it get with a realtor. we underwrite land at no more than 10% of after built value. in our market we build under the average new build value which is about 515k. we like to be around 420-450k and smaller footprint about 1500 sq ft with attached garages. we build close to urban core where everyone wants to live and net migrations match up. but suburban is fine. if you give more context I can help but in most markets land is a buyers market. most people aren't looking at it or buying it. 

I’ve built a great team, which is imperative, and have systems in place for my local rentals.

BRRRR I guess I would be looking probably for 1980 or maybe 1970 and before built properties and that will probably help narrow the search. 

Part of this is sentimental value (wife's grand father built the house) but I don't want it to be a money loser. 

If the house has all major components in working order a few cosmetic items doesn't make it not livable.

But, only because I have seen LLC agreements in lieu of PPMs, with the same general items discussed. 3.

Reducing Flood Insurance CostsFlood insurance can be a major cost factor, but there are ways to lower it:✅ Elevation Certificate: If the property is built above base flood elevation, insurance premiums can drop significantly.✅ Flood Vents & Mitigation: Adding proper flood vents and elevating utilities can help lower premiums.✅ Private vs.