I always have the worry in the back of my mind given the typical property values and being such a litigious state in general.

I'm not super familiar with Georgia landlord/tenant laws, but here we typically file eviction as soon as the tenant is one month behind on rent unless they have justification to be late.

Understanding these rules is essential for investors seeking to capitalize on the short-term rental loophole while maintaining compliance with tax regulations.

Their fee is 9.9% of the total amount we use (for this property we only need $30K so the fee would be about $3K, with typically 0% 12 month term, payments at 1%).Is this typical?

By showing the full 1099 income on the return, it helps mitigate the risk of IRS flags or inquiries related to unreported income.However, it's worth noting that the IRS typically matches 1099 income reported by payers to the income reported on taxpayers' returns.

It typically falls into 6 months of gross management fees on the low end and a year and a half of gross management fees. 

If you're thinking about turning your garage into a bedroom with a bathroom to make some extra cash, here’s the scoop based on my 20 years of experience: You'll need to budget for design and engineering costs, which typically run between $2 to $3 per square foot of your total property area, not just the garage.

Or use the $300k as the typical 20% down, would give you $1.50 million in buying power.

Collaborating with legal and tax experts is essential in order to effectively navigate the complexities of forming an entity and ensure that your real estate investments are structured properly for your specific circumstances.Good luck!

I'm looking into acquiring my first HELOC on my California rental for OOS cashflow investing but struggling to come up with viable exit strategies to get out from under the HELOC and essentially rinse and repeat.