The property is also in a great up and coming neighborhood, and its appreciated about $40k in equity in the last year, not including the ADU value add.

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

Here's a link to the IRS website noting specific items that are included in the cost segregation study report on page 24.

It does not matter if probate was opened or any notices sent out or anything similar.I understand your reasoning, but it is a constitutional due process issue that you cannot take someone's property away from them without due process of law, which includes notice.

Hi, I am new to real estate and interested in wholesaling leading to long term rentals in multi unit properties. Does anyone know of a good area to start in coastal Carolina?

Nothing wrong with taking a break.

As to washer/dryer you'll need to look at similar size units in your market and see whether they include washer/dryer. hookups or nothing.

Otherwise, you can take on a bit higher risk and acquire an off-market opportunity yourself, but you will not have the guard-rails of a Realtor and Lender to keep you away from expert-eye (or obvious) pitfalls.2) Tools and Analyzing Deals:What Tools - The analysis can be done via the BP Calculator (lucky for you, you're a PRO and have included access).

Take into account: bedroom and bathroom counts, square footage of the unit, whether parking is included, whether laundry in in-unit or not or nonexistent, central air vs. window units vs. nothing, and the general condition and age of the interior.Good luck!

This is definitely not going to break the bank.