Because we will be 1031 exchanging into a new property to basically reset tax liability and enter a new IO loan rather than banking on a big profit at sale, this works for us.So to sum it up, financing doesn’t necessarily make or break the deal, it’s more of a strategic choice.

I’m fortunate to have a father who is in the construction business that is teaching me the process of estimating and bidding projects, as well as other aspects of the construction business.

Performing due dilligence on your "future" partners is the most important aspect of this opportunity.

Yes, you want to find properties that you can purchase at a discount, but have you been working on the other aspects of your business? 

Whenever I say anything negative about  ANY aspect of wholesaling people lump me into some anti wholesale camp.

Do not use % allocation for CapEx because CapEx does not change with value of property (it will change based on size of property however so need to consider that aspect)Maintenance - I typically bake this into CapEx costs which puts the total closer to around $225 for a 1,500 sqf SFR (also dependent on quality of property, upfront rehabbing, etc.).

We are residents of Missouri and have a Florida LLC that owns a short-term rental home in Destin, Florida.We have owned it for almost 4 years now and would like to sell the home.The purchase price was $779,000 and sale price will be $1,200,000.We understand that we will pay federal capital gains and we understand the depreciation recapture aspect but we are unsure exactly what taxes we will be on the hook for since we are residents of MO and the home & LLC are in Florida.Do we also have to pay MO income tax on the gain even though the LLC and house are in FL?

They are not all PMs but they are software to help manage different aspects.

It's the no-mans-land whereby you need help but it's damn near impossible to find help, and you have to stay involved with tenant management.Start thinking strategically and understand that you will have to stay very involved.

I didn't even think about the soap aspect at all and what that can do to the unit.