If you ever want to get into a tenant nightmare of costly potential litigation become a landlord, have the ac go out in Phoenix in July, and inform the tenant that you just don’t have the funds to replace it!.    

I'm going to say that, in the beginning, it costs more and takes more time than I expected. 

Naturally, they are your competition and the daily rates need to be taken into account.

Turbotax isn't going to educate you so unless you'd like to educate yourself and potentially make some costly pitfalls, then I'd outsource.

Originally posted by @Eddie Torres:@Natalie Kolodij Standard or foreign LLCs in California still cost $800 annually unfortunately.  

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

The best place to start is with a spreadsheet that has every every cost itemized. 

That's not the same as paying cash.According to a different post, your credit card debt costs you $600/month.

Wholesaling is a great low cost way to make a lot of short-term cash, but it does not build long-term wealth.

While this can maximize leverage and ROI, challenges include getting lender approval for seller financing, high carrying costs, and the pressure of short-term loans.