Depreciation is another powerful tool, allowing you to deduct a portion of your property’s value annually.Action Step: Keep detailed records of all expenses and consult a tax professional to ensure you’re claiming every deduction you’re entitled to.3.

You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.

When i was younger I used to help her with renovations on some of these properties.I asked her about 2 years ago why she never went multifamily and she said that she was afraid of stepping out of her comfort zone and wanted to stick with what she had known and done forever.

Joining BiggerPockets is a fantastic first step – it’s where so many great real estate journeys start.

They may have been introduced to wholesaling as a low-barrier entry into real estate and never considered licensing as a viable option.Why Getting Licensed Could Be Beneficial:Access to MLS: Licensed agents can access MLS listings, making it easier to find deals and run comps.Credibility: Being licensed can increase trust and credibility with sellers and buyers.Expanded Opportunities: As you mentioned, having a license opens up the option to list properties traditionally when wholesaling isn’t the best fit.Legal Clarity: Licensing helps clarify what you can and can’t do, reducing the risk of running into legal issues that plague unlicensed wholesalers.It’s a balancing act, but for many serious operators, getting licensed seems like a logical step to expand opportunities and ensure compliance.

Our loan officers do their best to communicate with their clients every step of the way.

This has been one of our goals since starting the Academy: to help our clients take that next step into purchasing investment real estate in an effort to create financial independence & generational wealth through cash flow, appreciation, and equity.

@Michael Challenger glad you are making the BIG step and starting your 1st flip.

When you build a relationship and use a Banker time and time again they know your file, credit, and can determine what program would be best for the next step or cash out refinance.

Wish you the best.If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.