I’ve heard different things like taking a Fannie Mae loan out then converting it to a LLC and the likelihood of triggering a due on sale clause is minimal.

I mean this stuff happens in rental houses that are nice and newer or new. you either keep them in great shape which cost money or you buy rentals that you simply do minimal work on as the tenants paying 700 or 800 month have a very different expectation than a tenant paying 1700 a month.

If you're curious - read it here: https://www.biggerpockets.com/forums/51/topics/1221700-rant-...In closing: The dangers of shifting the timing (of your income, expenses, and business transactions.)A purely mathematical exercise may indicate some beneficial timing for this or that.

Population growth, job diversity, and low DOM (days on market) are significant indicators.

Doing a quick scan off I see there are about 5k STRs in Colorado Springs (assuming you are there and not a neighboring town I am gonna say the town has minimal restrictions).

I am not telling you to do one thing or another  Also, i believe that FHA will not allow renovations to a home unless it’s already livable with minimal to no repairs visually needed but go check.

I set up the entities using diff companies and paid about $1000 for all three (I got minimal boilerplate operating agreements).

Focus on cash flow and exit strategies, and consider starting with a smaller project to gain experience and minimize risk.Good luck!

Ideally, you want to look for markets with a growing economy, diverse industries, and growing population that indicates strong rental demand.

The more cash flow a property has is an indication that the risk that asset has is greater.