Set a screening criteria and follow it consistently every time—never deviate.

Hey everyone, I'm new to real estate investing and in the process of setting up my LLC in North Carolina.

In general, government will set the assessed value lower than market value at reassessment in order to neutralize appeals.

Two set of eyes are better than one!   

I am of the opinion that the best STRs are properties that don't compete with hotels - meaning that they are 4-5 bedrooms for large groups or have a unique location/setting. 

2) Set up a HELOC to cover the cost?

When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan me and my husband are thinking bout:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

Hi Veronica, It sounds like you're heading in the right direction by setting up an LLC for your flip.

They have the time frame and payment dates set but I’ll be sure to make sure things are going as planned.

I have a property in Janesville that is set up for STR/MTR as well as a portfolio of long term rental properties.