Thanks for spotting that additional "real property" question. 

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

In addition, all Rent payments hereunder not made within five (5) days of the due date shall bear interest at the rate of one and one-half percent (1-1/2%) per month"The monthly rent is $1550 so the late fee is easy - I've set the account to charge 5% if the rent isn't received within the 10 days stated ($77.50).

Additionally, working in a small-town market taught us how to effectively price properties for faster sales without compromising profit.

This was not what I was interested in doing and when I voiced that I was interested in 5-20 unit deals and had the funding for that in place I just got additional push back for buying the larger buildings.

Or in this case the additional tax on investment real estate in SC. 

@Kenzer Hodgson For your STR, an umbrella policy can provide liability coverage, but an LLC offers additional asset protection by separating your personal and business assets, which can be valuable in case of lawsuits or audits.

In addition to those I would also suggest making a commitment to going to local meet ups and networking events in your area.

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

They attract artists, creatives, and people who appreciate a vibrant urban lifestyle.Real Estate Appreciation (Historically): @Dan H. points this out with his bathroom addition.