Outside of real estate, I enjoy going to wine dinners, charity functions, date nights, piano bars, and nice dinners with my amazing wife.Excited to learn and connect with you all!

If the rent amount, due dates, etc. are specified in the lease, there’s no need to provide an invoice.

Also if you're using conventional financing, you will need to wait at least 6 months from your purchase date to use a new appraised value for a new loan. 

To solve this, I built a custom mobile app to handle rent payments and due dates because no other management software can handle the payment schedules or turnover.

My next goal would be to rent it for that and not take any cash flow from the property yet just keep it in the reserves then try to refinance at a later date or see if the home appreciates enough 

We're looking to renovate something before the end of the year to accomplish 2 things: 1) Improve home value so we can get appraisal, refinance and leverage that to buy a new property. 2) Take advantage of the tax credits that are out there in 2024 before the new year or is it better to wait until 2025 and just hold onto the cash I have at hand.Here is a list of renovations that will need to be done eventually:*Brand new basement kitchen (cabinets + add seating area - we already have brand new dishwasher, fridge, gas oven)*New standing shower in the basement bathroom*New Siding*AC/Furnace for unit 1 are close to end of life but still functioning*New Fence/landscaping*New Windows for the basement*New Garage (unstable, concrete shifting, very old)*Solar Panels on the roof (There is a $0 down payment lease option w/ sunrun, but I'm hesitant to move forward)*Renovate master bedroom closet for tenants (it is old & has built in entertainment center that is very dated)*Repair Catch basin*Adding better drainage system for back door.Greatly appreciate any help, insight or advice!

Are you up to date on all of your licensing and permitting to legally rent this duplex?  

You’d place in service with the total cost basis on the date on conversion to a STR.

You sell them the option to purchase by a certain date or in a window of dates for a certain price.

Staying up-to-date on these laws is crucial to avoid costly legal issues and fines.