@Dequan AllenA beneficial tactic for those trying to accumulate riches and become financially independent is house hacking.

The financial sophistication and operational capabilities for a large multifamily are much different than flips or BRRRs.  

Our goal is to start building generational wealth and create some financial flexibility as our family grows.

.)- Financial Services (you (owner) should think about what you want the PM to handle, if it is everything from paying bills to insurance procurement to P&L statements then ask that, if you don't want the PM so heavily involved in financials and just more on the surface level of the operations of the property then that is okay too!

Make sure you get your financial house in order first -- decrease debt, increase income, & maintain a good credit score.

- What financial services do you offer / handle?

Compared to an FHA loan, a conventional loan with a 5% down payment can have a cheaper monthly mortgage payment.When buying a single-family house, factors to take into account include your financial status, long-term objectives, and required down payment.

Some hard money lenders want to see a bank statement and will ask for a letter of explanation if they see a large deposit, others wont need to see a bank statement at all, in fact we would only need a stated personal financial statement.

Having a safety net for unforeseen expenses is crucial.Failure to Exercise Due Diligence: Investigate possible investment properties thoroughly, especially through title searches, property inspections, financial analyses, and rental market studies.

If an LLC owns the property, then there is no exemption on gain for the residence because that code section applies only to individuals.