Hi @Pat Lulewicz - I’m looking to purchase my first investment property in early 2025, with the goal of closing, rehabbing, and renting it out by summer 2025.

Not every off-plan project is a surefire win; some are overhyped, and others don’t live up to expectations once completed.

The challenge is that the property only has a one-hour open house the day before the auction.Here are the details:•Opening bid: $100K•Hard money lender financing: Up to $220K (with my 20% deposit and 100% renovation costs covered)•Comps in the area: $485K–$510K•Estimated rehab (based on pictures): $125KObviously, this estimate could change significantly once I see the property.

I got lucky that the tenant wanted a house in my neighborhood to keep kids close to their schoolsHouse was listed for 1750, they offered 2250 but I declined , so they offered $3k, ended up renting the house for $3250 ($250 pet rent) per month, for 3 month, open to extension if needed.I met the tenant and did the background check on them, I felt comfortable renting to them THD takes time with approving the property, but they were quick to approve the lease, and they sent me the checks the next day after lease signingMy house is not furnished, and they were ok with that , they actually work with a company that provides furniture for the tenant, and they coordinate the delivery and setup of furniture on the lease start dateOverall I like the experience working with them , but hey today is day #1 (out of a possible 3 months), so I will update this post if anything wrong happens or if I notice any red flags

When I had a duplex I just put up a second box with a "B" on it by the entry to the second unit.

That being said, I have closed many loans less than $75k for BRRRR strategy without any problem.

I will always use it and I will recommend it to my close people.

Probable.- Important because even if tenant gets a new job and catches up, how long until they lose the new job and repeat the cycle?

However, you could convert the rental property into your primary residence, live there for at least two years, and qualify for the Section 121 exclusion to avoid up to $250K (single) or $500K (married) in capital gains, though depreciation recapture remains taxable.

I also value the planning element, especially if I’ll be setting up a trust, so now I feel torn about which option is best.EAs aren't going to focus on auditing and planning.