Feel free to review and adjust the numbers to gain a better understanding of expected performance. 

Exploring the Real Estate Scene, in Palm Beach; A Report for February 2024Imagine the sun setting below the horizon casting a light over the beaches of Palm Beach.

My question is what is the best way to set up out LLC, and should we be taxed as an S-Corp? 

Hold periods need to be adjusted.  

These conditions can make it difficult to generate the expected returns, especially when considering the cash-out refinancing stage at the ARV price.Now, I'm not saying it is impossible to do BRRRR, just trying to set the expectations in the right place.

Is it important to have the cash reserves already saved up BEFORE you acquire a rental property, or is it okay to just set aside a percentage of your gross rent to fund the cash reserves after the investment property is acquired?

@Kevin Kim I initially post the ad about the unit and get prospective tenants to fill out my application prior to setting up showings.

There is quite a bit to learn so I would say get moving - read, go to meetings, consider working with someone who can help you jump the learning curve, set meetings with potential team members.

First things I do for my clients is set up a flipping netwrok. 

I have the skill set and experience so it makes sense to meHas anyone done this/can anyone offer advice about how to get started?