To minimize audit risk, it’s advisable to choose “Other interest” instead of “Mortgage interest” when reporting.Part 2: Forms 1099-INT from Investors to Private LendersForms 1099-INT Explained: Similar to the interest earned on savings accounts, Form 1099-INT outlines the interest that must be included in taxable income.

This was a fantastic outline of the process, from the initial post thru all of the follow up.  

That strategy should be clearly outlined by your advisor. 

The budget should outline the total costs and timelines for each component.Forecasting market rent growth is the next step, as it impacts the property's net operating income (NOI) and determines its future value.

Here are some steps and considerations to help you make an informed decision:Evaluate Cash Flow: Create a detailed spreadsheet that outlines all income and expenses associated with the property.

Detailed Inspection Report: Ensure you get a comprehensive report that outlines what needs to be fixed, if anything.Gathering More Information:- Talk to the Seller: Understanding the history of the repairs and any challenges they faced can provide valuable context.- Review Historical Permits: Check with local building authorities to see if the previous owner obtained the necessary permits for the repairs.

So, you may not have the coverage you think, and this insurance is only a profit center for the company if the premiums exceed the payouts.I wouldn't think this is a good idea, for the reasons @Josh Young outlined.

To address these concerns, you could charge an additional fee for access to the golf cart and have guests sign a liability waiver, clearly outlining the risks and their responsibilities.

I would like to share a success story that outlines the importance of networking and the careful selection of location for real estate investing.

@Chase Preston- thanks for the post and outline .