This negative equity position is one of many reasons that adding ADUs in a single family zone is not typically a good RE investment.OP whatever you decide to invest in, make sure you do thorough and conservative underwriting. good luck You’re right in that the level of underwriting I presented wasn’t institutional level - but for your average person just starting out, institutional grade analysis often makes the thought of investing overwhelming.

Starting a property management company with my brother and my dad was a mix of teamwork, trust, and family dinners doubling as business meetings.

@Mitchel Johnson Welcome to BP and I wish you the best in investing..Usually people start by going to local meetups and building a network of trusted people to get their feet wetHere is an examplehttps://www.meetup.com/find/?

They may have been introduced to wholesaling as a low-barrier entry into real estate and never considered licensing as a viable option.Why Getting Licensed Could Be Beneficial:Access to MLS: Licensed agents can access MLS listings, making it easier to find deals and run comps.Credibility: Being licensed can increase trust and credibility with sellers and buyers.Expanded Opportunities: As you mentioned, having a license opens up the option to list properties traditionally when wholesaling isn’t the best fit.Legal Clarity: Licensing helps clarify what you can and can’t do, reducing the risk of running into legal issues that plague unlicensed wholesalers.It’s a balancing act, but for many serious operators, getting licensed seems like a logical step to expand opportunities and ensure compliance.

In Missouri, a married couple jointly owning LLCs is generally required to file partnership returns for each LLC, necessitating Form 1065 at the federal level and Form MO-1065 for the state.However, the IRS offers a Qualified Joint Venture (QJV) election for married couples, allowing them to avoid partnership classification by treating the business as a joint sole proprietorship.

Our auto coverage is now at an increased level so if this happened today it likely would not result in any involvement of the umbrella policy. 

Just make sure they are familiar with your state tax laws if you have state-level taxation.5.

I agree with Erik, although their are some investors out there that will help fund the down payment/entry fees that you mention, they typically are friends and family that trust you and believe in you.

It really depends on the investor, their comfort level and goals. 

Find someone you trust.