DISCLOSURETHE FOLLOWING IS FOR INFORMATION ONLY, AS I AM NOT AN ATTORNEY, YOU SHOULD SEEK PROFESSIONAL LEGAL ADVICE.So what must you do?  

I’ve developed a Comprehensive Investor Report (CIR) for a property in Palm Coast, FL, designed to be transformed into a luxury rental asset while serving as the foundation for a scalable asset management strategy.Here’s a quick snapshot of the deal:Property: Red Birch Lane, Palm Coast, FLCurrent Value: $350,000+Mortgage Balance: $165,000Current Equity: $185,000Investment Required: $177,500 (for luxury upgrades and optimization)Projected Monthly Rent: $4,500 with 2% annual increasesTarget ROI: Full 1.5x ROI for investors achieved in 9 yearsLuxury Features: Smart home automation, designer finishes, professional-grade kitchen appliances, and more.I’ve also structured a capital distribution plan with a waterfall approach:8% Preferred Return for investors.Full Return of Capital to investors before profit splits.Post-ROI, a 20/80 split (Investor/Management) ensures long-term alignment.

- Run a cost segregation study on this property in 2024 and you might have $100k on line 18...Without diving too deep on this post - If you run this scenario as a real estate professional while materially participating in the property, You'll be able to reduce your's and your spouses taxable income that year... 

Can this person now be "a real estate" professional? 

However college kids or young professionals will most likely not care.In Danbury you have to look out for hidden gems.

Make sure your photos are professional, your description is engaging, and you’ve set competitive prices based on your local market.

Skills or qualities in no particular order: Communication, patience, empathy, listening ear, backbone, resilience, determination, organization, work ethic, lead a team, thick skin, time management, trusts their instinct, and all-around good ethics! 

You can determine if the cost segregation study makes sense by speaking with your accountant and many cost segregation professionals offer a free analysis.

However, when I’m told on the day of closing they need an appraisal and won’t be funding to close, that isn’t professional.

Most professionals will recommend a separate LLC for every $1 million in assets, but I don't think that's necessary.