Challenges?

They always make sure to have line(s) of credit to get them through challenging periods.

I navigate through cities and towns, identifying areas that are both friendly and challenging for STRs.

Risk that the IRS will challenge it, which is far more likely than with a full-service professional report3.

Managing a property can be incredibly rewarding, but it does come with its fair share of challenges—especially with the recent shifts in Rhode Island legislation.In 2024 alone, 39 bills were introduced, and seven significant ones passed, including extended rental terms, mandatory fee disclosures, and other updates that every landlord should have on their radar.

It worked out well, but not without its challenges, and I learned a ton along the way.How to find a partner: Meetups and forums like this are great places to start.

Each of these asset classes requires a deep understanding of market conditions, legal nuances, and financial structuring to avoid costly mistakes.For example, tax liens can seem like easy wins but come with complications such as redemption periods and legal challenges.

Challenges?

Investment properties prove to be more challenging, but not impossible when titled in your own name.  

. $7k sounds more reasonable but I think setting 5 to 10 years for you and your sister to reach Financial Independence and quit W2 job (assuming you also have W2 job unless you own a business or are a real estate agent) is really challenging.