This strategy helped a Phoenix investor rank higher in the “Group Stays” category.A/B testing is another essential step.

Is your strategy more monthly income focused or appreciation?

The goals will determine the strategy (what you do) and the tactics (how you do it).

Our strategy is to buy out of shape properties and rehab them back into shape, so a GC with experience in doing extensive renovations at once would be preferred.

It can simplify end-of-year paperwork, but you’ll want to confirm the details with a tax pro.3.Long-Term Game PlanPaying out of pocket and keeping your medical receipts can be a great strategy.

I personally like the buy-and-hold strategy and we help clients who share this long-term, wealth building mindset. 

I hadn't thought of these strategies before, but I'll definitely give them a shot.

Otherwise, it’s treated as a partnership requiring Form 1065.Get an EIN (Employer Identification Number) from the IRS (free) for tax and banking purposes.Separate personal and business finances by opening an LLC bank account and keeping rental income/expenses distinct.Consider an operating agreement, even if not required by state law, to define ownership and responsibilities.Liability protection: An LLC helps shield personal assets, but you may still need landlord insurance and an umbrella policy to cover lawsuits and unexpected claims.Tax strategy: Rental income typically passes through to your personal return (Schedule E).

Personally, I advocate for a long-term investment strategy and would recommend investing the funds, provided you are comfortable with the expected return on investment over time.

Given the competitive market at the time, every property was receiving multiple offers, and securing a deal required both strategy and speed.