Following Up + More details: @carolineOur utilities were also opened using an LLC but since the power had actually been shut off the problem mostly came from ICE sending someone out to turn it back on plus installing a new style meter (which had to be approved by our HOA but that was another matter entirely and not particularly difficult).Opening a bank account with BCR as an individual is easy and you can get an atm card in about 3 days but you will be limited to holding only a thousand dollars in it.

This strategy has worked out really good for us and allowed us to borrow limited income from other people for down payments. 

Utilizing empty lot space in this way helps to combat the increasing housing prices and limited supply many markets have been experiencing.

I recommend starting with multifamily if you're just getting started with limited capital.

The date you are able to take depreciation is when the property is ready for renting (i.e. advertising for rent or obtaining a certificate of occupancy).

Account Closed You can do automated lead generation in several ways, depending on whether you're looking for seller leads, buyer leads or private lender leads.Seller Leads: (1) Lead Swiper (online lead search with dozens of targeted searches), (2) Instant Leads -- direct access to listed properties nationwide with a click (3) OfferBot, automated offer making software (I use this every day) (4) Direct Mail Connect (upload your own list or use lists out of Freedomsoft) -- my team manages a ton of direct mail in my real estate business using this, (5) SMS lead generation (I use this every day)...and that's just scratching the surface.Buyer Leads: (1) Nationwide Cash Buyer database (millions of buyer records at the click of a mouse) -- including buyer name, address and all property addresses they've bought including closing dates and prices paid

So my limited experience with a new build did not yield cap ex expenses with what you are proposing. 

However, what if you prefer simplicity, limited risk, and are living off of the income? 

This STR would also be a place for us to block dates off for ourselves between work contracts (if we want to), which adds a slightly more personal investment in this one. 

Auto limits of 250/500/250 and Homeowners liability of 500K should be the minimum you carry.