Having strong agreements, clear communication, and contingency plans in place can help mitigate risks before they become major issues.

Here is an example with some figures:My LLC total investment = $204,000Partner LLC total investment = $196,000Value of project when complete = $500,000Each LLC value afterwards = $255,000 / $249,000The plan was for me personally to go get the refinance loan because the terms are so much stronger than if I went portfolio with the LLC.Loan total = $300,000 (keeping at 60% or under of value for best terms from the bank)Partner LLC payout = $249,000My LLC payout = $51,000In this scenario, I am struggling to see how to get the remaining equity in the project into my personal name? 

This could easily cost you $10’s of thousands if you plan to stay in the home 5+ years when you return. 

I am currently in the market to purchase a tri-plex with the plan to live in one unit, make upgrades, and rent the other two out.

Make sure you check the local ordinances / zoning and talk to the local administrator to see if you can do what you are planning.

I’m planning to start by buying in Buffalo to gain experience and learn the ropes.

All this to say they are getting serious about permitting so if you are planning to invest in San Antonio in the short term rental space, MAKE SURE to check that the property is eligible for a short term rental permit given the density limits above and have a Realtor experienced with the San Antonio permitting requirements and rules. 

Additional features I like are free esigning and document management, online payments, tenant screening, maintenance requests, vendor payments, owner payouts, owner statements, communications at the  property level and with tenants.Portfolio currently consists of:Owned7 family long term 5 family long term 2 Short term SFManaged 2 Short term SFFuture plans for growth are to continue buying LTRs and managing additional STRs. 

If you plan to invest in multiple states or require advanced asset protection, consult a CPA or attorney to explore options like a holding company structure.

It’s a small single-family home in Florida that I plan to BRRRR.