Focus on learning the basics of MTRs, including their appeal to traveling professionals and the need for furnished properties.

Property Valuation:Investors look at a variety of factors to determine a property’s value, including comparable sales (comps), rental income potential, and location.

Common deductible expenses include mortgage interest, property management fees, repairs, and even travel expenses related to property management.

Even when I self manage I include pm because it is work and I do not work for free.

@Julie Garner This contractor texted me after I received the quote to let me know that materials are included.

It included 25 mobile homes, 60 self-storage units, and four commercial tenants.

If she lives rent-free, you retain control of the property but lose the ability to claim rental-related deductions.For long-term planning, consult a CPA and attorney to ensure compliance with tax rules and align ownership structure with your goals, including potential conversion to a rental or estate planning considerations.

run the numbers including holding costs and you will see why.

After putting about $50k into the property,  I’m just about $25k from meeting my completion goal that includes stucco, drywall, and siding.

I'm also a licensed mortgage broker with a lot of fix-and-flip programs, including some that require as little as 10% down on the purchase price, and provide 100% of the rehab funding.