Focus on understanding the rental market, conducting thorough property inspections, and leveraging owner-occupied financing options like FHA loans.

I was originally drawn to it because I wanted to have one place where all my tenants paid rent and where they had the option to set up auto payments. 

Does Baseline give you the option to track expenses without attaching it to a particular property?

I give them a deadline to respond, very clear terms of how we will move forward with the option they choose, and I make it clear this is my final offer.

They don't allow auto payments or automatically add late fees, and tenants would have the option to pull their payment back, which is not ideal.

Normally we'd use a 1031 exchange, but since the cash of that property is going to be split, I wasn't sure what our options are.

I think a better option is to get a job in property management.

I’m committed to keeping my options open and continuing to learn about being a landlord to ensure I’m well-prepared for my first purchase.To improve my ability to analyze deals, I’ve developed a two-part plan:Join a local BP meet-up group to discuss my goals and support others.Continue learning and engaging with the BP forum.Thank you again for your guidance—it’s truly appreciated!

I found myself overwhelmed with all the options.

A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!