Instead, focus on establishing an authority in your area and building an audience.

I've spoken with my financial advisor and ran the numbers where spending 5 more years in my W2 sets us up for the future but it's taking all my attention and I can't focus on real estate, plus I’m miserable.

When would you suggest to establish an LLC for your portfolio?

This is a large established corporation so I'm not concerned, and most of my application questions wouldn't make sense.

The landlord responded that the lease was not subject to the Rent Adjustment Program since the rental was for “sole use of one or more rooms and shared use of common areas (such as a kitchen) in the residence,” which was a single-family home.In its decision, the court focused on the definition of a “dwelling unit” as used in the exception found in Civil Code section 1954.52(a)(3)(A), which provides that “an owner of residential real property may establish the initial and all subsequent rental rates for a dwelling or a unit about which the following is true…It is alienable separate from the title to any other dwelling unit….” .

It is very important to establish your buy box (with specific states) before jumping into this game. 

For instance, posting a home could potentially violate various laws that listing agents are trained to navigate, such as Fair Housing regulations and the recent NAR settlement.I’d recommend establishing a solid relationship with a listing agent.

@Shaun, many people looking to self direct their retirement who already own rentals actually establish a PM business (usually sole prop for simplicity) to become eligible for a Solo 401k. 

In the Bloomington-Indianapolis market, establishing these connections can provide you with off-market opportunities, mentoring, and invaluable advice from seasoned pros.

While there were no major challenges due to the property’s condition, we learned how valuable a well-established network and quick decision-making can be in completing fast, profitable deals.