I intend to focus on the BRRRR method primarily, but am open to learning all kinds of other strategies including tax lien deed investing, foreclosure purchasing, and anything else that may help achieve both my short and long term goals.

You have 180 days to complete your purchase.I'll reach out via pm with some additional resources including our youtube channel.

Once your total income (including LTGC) crosses the $500K threshold (which is really about $519K in 2024), then it flips to 20%.   ** Remember @Ran Fridman that you are also likely facing recaptured depreciation taxes (25%) and possibly NIIT taxes (+3.8%) on sale, plus state taxes on income (+4.95% for IL). 

You can typically get in the property with 10-20% down and the rehab budget would be included so you can pull from the rehab budget as you go along.

We have a condo that includes an underground parking garage.

Also include upkeep. 7.

This might strain the schedule for your project.Risk: Significant financial losses, including the possibility of losing your property in the event that you fail on the loan, might arise from a repair and flip project gone awry.Due Diligence: To make sure a hard money lender is respectable and reliable, it is crucial to carry out extensive research and due diligence before selecting one.Before proceeding with a hard money lender, consider your financial situation, risk tolerance, and investment goals carefully.

And if Social Security was a) not borrowed against by the government and b) payments not expanded to included other items would be self substaining.

The loan cannot include a balloon.

My short-term rental is out of state but I manage it remotely (mostly guest communications and troubleshooting issues) and if I include in that the time I spent getting it ready to rent, I would say I materially participated and even more than anyone else (i.e. cleaner).