Investment Info:Small multi-family (2-4 units) buy & hold investment.

I don't buy into most any program nowadays or Coaching and other bs.

Quote from @Allison Cutlip: Hi all, My boyfriend and I are buying our first home that is a duplex, planning to live in one unit and rent the other side.

Many are buying properties, doing minimal renovations to keep their crews busy, and selling with small or zero profit margins.Cash buyers are a priority.

I wouldn't recommend setting up an LLC out of state if you are buying in Tennessee unless your tax advisor is looking to help you on strategy.. but from a numbers standpoint, it really doesn't make sense when you start adding up on all of the annual LLC reporting fees from different states and then it starts cutting into your cashflow.

To avoid pitfalls, research liens, check property conditions, and set a max bid before buying.

I had not thought of that since I am not buying or selling anything.  

@Shannon Vistisen I would say this, unless you know everything that is tied to that entity, buy the property alone.

@Travis TimmonsI had the same reaction as you did, but I held off on posting since I don't yet invest in STRs (I'm all LTR so far, and looking into my first MTR).Buying an STR "to offset income" makes me nervous as well...

I’m currently house hacking and planning to buy my next property in about 6 months.