I personally like Alabama and Tennessee a lot, depending on what specific area you're looking at.Look for Class B or C properties in stable rental markets, particularly single-family homes or duplexes.

What are your specific goals with real estate investing?

While this guidance provides general steps, it’s not legal advice; an attorney will ensure the process aligns with your specific circumstances.This post does not create a CPA-Client relationship.

Look up the courses taught by Justin Kivel, specifically the Pro forma modeling course and the real estate financial modeling boot camp.

In light of this, I have been exploring the possibility of pursuing creative finance options, specifically seller finance deals, as a potential means to achieve my goals.

If you have any specific questions, I am here to assist.

The short-term rental (STR) loophole allows for different treatment of rentals with an average stay of seven days or less, but this doesn't change the REPS hour requirements.There is no official IRS form specifically for documenting REPS hours.

Is there anything specific I should focus on during the due diligence process, particularly regarding title and document inspection, compared to a traditional sale?

It's hard to give any recommendations without any specific questions/real numbers.

You can use a tool like AirDNA to get estimates of property performance in your specific market and with your typical size and configuration of home.