Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?

Thanks for the insight on where to network with potential investors, I will definitely look into that.  

Regulations & Compliance: What's the best way to research local STR laws and avoid potential regulatory issues?

Prices remain relatively low, but appreciation may be slower.Monroe: A mix of cash flow and appreciation potential, Monroe has become a popular choice for investors, especially in areas where new developments are popping up.Appreciation-Focused NeighborhoodsBallantyne: A well-established area with high demand, Ballantyne offers excellent long-term appreciation potential, though cash flow opportunities may be limited.South End: A booming urban hub with a vibrant retail and restaurant scene.

The sale failed and he still owns it.One of the potential solutions is to use an SBA 504 loan for the real estate. 

I’m currently active on BiggerPockets to connect with like-minded investors, exchange ideas, explore potential opportunities, and provide opportunities through my network to collaborate with others.

Wanting to know who we can reach out to for management, estimates on potential income/expenses. 

If the seller handles the repairs, it’s usually not an issue, but you want to verfiy what your lender requires.Cleveland Heights checks a lot of your boxes (hospitals, strong tenant pool, walkability, and appreciation potential).

I'll be specifically looking to start in the Cincinnati, Ohio and lean towards targeting buy and hold single family and potentially multi family as well.Any advice is appreciated and I look forward to connecting. 

A young investor with just 1-2 properties, 3 years into their journey could potentially be a great partner for friends and family.