My team and I are also out-of-state investors, including a managing partner who was born and raised in Toronto.We’ve been investing in Cleveland for a little over a year now and currently own 22 units in the area.

Upon "googling" I see where some folks include Debit Cards as not having to send 1099's, but I want to be certain.A lot of contractors lump their labor and materials together.

A real estate lawyer can help you navigate the specifics, including ensuring you don’t inadvertently trigger any unintended tax consequences.A few tips to consider:Check with your mortgage lender: If there’s a loan on the property, transferring it to an LLC could violate the loan’s due-on-sale clause.

This included modernizing the kitchen with high-end appliances, upgrading bathrooms with spa-like features, and adding hardwood floors for a luxury feel Lessons learned?

Not including closing costs. 

took down 6 walls including a load bearing wall. 

Rental income is subject to tax, but it is also possible to deduct many costs related to owning and maintaining rental property, including property management fees, repairs, and mortgage interest payments.Additionally, for those investors holding properties in Germany for the long-term, the country's capital gains tax law is attractive.

Build a strong team, including agents, lenders, and property managers, and use tools like the BiggerPockets calculator to analyze deals.

@Jerell Edmonds is right that many of us, including myself, waited because of fear and feelings. 

I’m talking about upper middle class quality furniture and furnishings withEVERYTHING included.