I took on the challenge and repaired them both myself.Many people have told me that real estate isn’t worth the hassle, especially when starting out.

Are there approved vendors you must use for unit repairs? 

I will also be tracking expenses related to repairs, maintenance, travel to and from NV, hotel stays, meals, gas, and other regular business costs.In the long term, I aim to purchase additional properties under the business name, but I understand I need to establish at least two years of income and credit history before doing so.The issue I’m encountering is that my accountant has not provided any guidance on how to structure this scenario.

repaired and updated the home.

Seller would be open to creative financing since house needs foundation work.Asking 300kFoundation Repairs- $40k ( could be way less) ARV- $385 to 400k

One thing I want to be prepared for is repairs and remodels.

Also, our cleaners will report property issues to us through Breezeway and we manage all of the repairs and consumables.  

And I wouldn't be surprised if Mayor Bass is removed as well....the $17 mm cut to LAFD budget and 30% of fire trucks sitting awaiting repair, it goes on and on (not all directly her fault, but hey she's where the buck stops. 

You will have income (rent), but then you'll have expenses: taxes, insurance, repairs, turnaround cleanup, eviction/attorney costs, vacancy factor etc.

Hey Quentin, Here are my bits of advice:Prioritize Value-Add Opportunities: Focus on properties that require cosmetic updates rather than extensive structural repairs.