Day of the install after all the material is off the roof you’re asked for more money due to lack of material, i.e. compromised wood that was not inspected when it should have been.Just like a mechanic, you probably wouldn’t trust him if he told you you needed a new transmission but never popped the hood. 

There's a misconception that builders are price gouging, but in reality, the price of a home is directly tied to the cost of building it.When material or financing costs go up, home prices follow.

(I buy houses type of material.) 1 page, single sided.Eventually we settled on a very specific target audience and a targeted message and things went well.

As I pay contractors, for materials, etc., I add it in the check register and class is to the WIP account.

Looking for advice - purchased first STR 2023 and we qualify for active income based on rule 3 of the material participation test.

But what you’re encouraging is that when I am 23, I should use the first 4 or so years just building a portfolio of LTR’s and then when I am 27, look into leveraging STR’s to meet the “Real Estate Professional Status” and “Material Participation” the IRS outlines, correct? 

Are there any good materials (books, websites, etc.) you might recommend? 

STR a suboptimal option in this market due to restrictive ordinances.Purchase price: $1,260,000 with 11% down @6.75% fixed 30 yrTotal Rehab costs (labor + materials) thus far: -$70,390Cashflow to date (NOT including Rehab Costs above): -$60,237Projected Cashflow: 3.1% with 3 LTR tenants Wanted the group’s expertise on options as I am considering parting ways with this property given the number of leaks that have come up in this relatively young property.1) In 2025, 1031 into another (potentially more units) multifamily at least 20 years old.2) Investigate leaks/Stabilize and proceed with original plan as LTR and accept uncertainty related to potential future leaks.3) Proceed as MTR (hospitals and NYC nearby) so that can intervene on issues during vacancy periods.

Plus now that I'm established and have a portfolio, I pay a lot into the local economy by hiring contractors, buying materials, etc.

Delays can happen due to material shortages, weather conditions, or scheduling conflicts.