I am a first-time investor, I'm looking to buy a duplex in a smaller town in Utah, the town's population is around 8.2k. I own a home currently with a conventional loan. I'm looking at a duplex and the owner offered o...

My biggest aim is to ensure that my long-term success aligns with whoever I invest with's long-term success instead of making their money on the upfront sale and leaving me on my own. 

I think it's just a matter of being a bit creative and finding opportunities to add value to a property.

For that, you'll want to ensure your LLC is already set up and approved in the state where you’re operating.Most lenders are fine with the funds coming from your personal account, especially if the LLC is newly formed.

Seller was not willing to extend contract or accept creative financing options.

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

Work with a knowledgeable SDIRA custodian to ensure compliance with regulation.This post does not create a CPA-Client relationship.

Hey Tyler we hate to hear that your experience was negative sincerely we would have hoped that we could have come to a resolution we know that you and your partner had made a request that we do $800 of work that was unfortunately not in your scope of work at the time we had exhausted $4900 in additional work to ensure the property was to satisfaction which included a new hood range upgraded lvp flooring additional framing  new window and a paint upgrade from a single color format to a multi color format and can lighting all of which was never in the original scope and unfortunately when we requested that we do the work you declined I’ve attached before and after videos of the home for reference https://www.dropbox.com/scl/fi/h0ddll4cyp5g5gq12o73s/Video-J... always twos sides to these stories.. 

Keep detailed records of repairs, improvements, and rental income, and consider working with a CPA specializing in real estate to ensure you're taking full advantage of deductions and strategies like passive losses, home office deductions, or even the Qualified Business Income deduction if applicable.Good luck!

I'd get very creative with it, and when people are saying "your nuts" I'd know I'm in the right zone of things.