Lessons learned?

Lessons learned?

I have a followup question - I will realize a lot of capital gain from this home in Idaho, so I think unless I purchase a new primary residence I will have to pay that capital gains tax. 

Quote from @Jokari Trueheart: HI, almost 11 months ago I purchased 3 duplexes and I borrowed the funds from my personal residence which I took out a equity agreement for the down payment on the investment property, great idea at the time because I have 10 years to pay it off and theres no payment requirement, but , I learned more about the consequence that it takes a large chunk of my equity the longer I take to pay it back, so my goal was to refi cash out the investment property to pay it back but I don't think theres enough equity yet to pull the full $106k needed, I only borrowed $88k but with the equity percentage for one year i'm paying about $18k in equity on top of the amount I borrowed if I pay it off in year one, so I need this paid off ASAP before it increases more.

The more deals you’re part of, the more you learn about:✅ Structuring deals✅ Managing risk✅ Negotiating with partners✅ Handling financingTaking part of a good deal helps you build real-world experience that will pay off big in the future when you do bigger and better deals.3.

Rentals generate passive income, so an S-Corp offers no added tax benefit.

Stunning transformationLessons learned?

Connect with other investors, agents, and property managers to get a feel for the area and learn from their experiences.Are you thinking about house hacking or just straight-up rentals for now?

Quote from @Zara Massoud: Your new PM is correct and the old ones were wrong.The property manager must have your social security or tax ID number on file.

Use umbrella insurance as an additional safeguard, especially if you opt not to form an LLC.Avoid S-Corp taxation for rentals, as rental income is passive and not subject to self-employment tax. S