If you net a $300,000 profit from the sale of your current you could in theory invest in a $1.5MM property.

Like any other wholesale market, I "buy" a loan from a lender at a discount and mark it up for my profit.

A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

I know for our portal in Buildium owners can log in and run different reports like income statements, profit and loss, general ledger, etc.

The short-term rental market here is particularly lucrative, though regulatory changes can impact profitability. 

When cycle gets tougher then those marginal agents sales dry up and they go back to that j-o-b especially since they did not save and spent all their money on trips, bigger houses, nicer cars,etc.Good LuckI hope you are one of the few that make it long term. 14 years in the business and still having record sales year after year.The best nugget of info I can give is constantly out learn your competition.

Don't split the work between multiple contractors if possible, finding one to do all or most of the work will keep prices down.Challenges were finding replacement pieces for certain items as manufactured homes were very different than stick built as well as going through state guidelines for affixing the house to the land Hey @David Jesperson, welcome to the BP Forum and congrats on completing your first solo deal AND making a nice profit!

And because it’s a logistics hub (FedEx HQ, major distribution centers, and growing industries), rental demand stays strong.I’ve been in Memphis my whole life and have spent over two decades helping investors navigate this market and build profitable rental portfolios here.

The commission isn't all profit and I think you do a disservice to our industry by furthering that perception.

My advice is to keep taking profits along the way.