If you are NOT running a trade or business - 1099s are not required.The main reason why you WANT to be "running a rental trade or business" is your eligibility to claim business overhead deductions, such as marketing, education, technology, and so on.

IDEALLY, we would like to find a property that has or is capable of being converted into a “mother in law”, “ADU”, “Casita”, or any other separate living quarters in which we could rent out the main portion to a tenant (short term or long term) and then use the separate space as our own for when we come and go with business.

Your tenant's friend will probably just draw it from whatever nearby circuit thay can tap into most easily.....So running a new 14/2 cable from the main panel will probably not be easy unless it is really close.

I mainly focus on Columbus, Ohio, where big tech companies like Intel, Meta, Amazon, and Google have moved in, boosting property values and job growth.

The main thing is to find motivated sellers before they list their homes with a Realtor.

I'm specifically interested in "main street" properties with a downstairs retail space, upstairs apartment(s).If you know of anyone with this sort of experience, I'd REALLY appreciate the connection.

Most lenders are going to want to see a few big things from the ownership group. 1) The borrower will be the enitity (LLC, S-Corp, etc) and any owner with usually 20% or more of ownership in the entity will be expected to guaranty the loan, 2) We'll want to see some experience doing similar projects from at least one of the main owners, 3) We'll want to see bank statements showing liquidity enough to cover the intial cash injection (down payment), the closing cost, and some cash in reserve.

By sourcing directly from trusted factory partners, Griffin Modern saved significantly on key elements like the Pivot door, floating staircase, glass handrail, and casement windows—items that normally cost 30% more when purchased at retail.

We only buy SFRs to rent them if we can build it into a 3-4 unit property, so the main house is just 1 out of 4 units to comp out.

Originally posted by @Bartosz Rosol:I attended one of Rich Dad's free seminars a couple years ago, here's what I experienced.The event started out with the main speaker sharing his success stories in RE, and ended with him trying to get us to sign up for the classes.