Hi all, My wife and I are new to this forum and real estate investing.  We are both full time professionals and looking to generate passive income so we can slow down a bit and enjoy time with our new son. Currently, ...

Please seek legal counsel before you are hit with tax and business fees.

That way they can spread out how hard they get hit with taxes.

When you show folks around and hit it off with them, mention you are happy to show them any other places they are interested in.

I'd be conservative and give yourself a range...Ideally you'd hit 2% of your cost in rents, realistically that probably won't happen for new build maybe you'll hit 1%.So it cost say 400k for land and build you're looking at wanting 4-8k per month in rent.In all honesty you're probably better off doing a rehab vs new ...

@Summer PooleAs an agent, you can start out by setting the parameters you're looking for on the MLS and it will pull new listings for you daily.However, by the time a property hits the MLS, the great deals are usually gone. 1/2 of all properties bought and sold never hit the MLS but are done by investors working directly with buyers and sellers.

That's why they typically hit 1.5-2%.In my opinion, 2226 Goodlet is closer to a D area.

You need a real estate agent that knows the area better than you do, can spot a value, might have a network of people built up to find properties before they hit the market, etc.

If this is a one off flip it may be different but if you plan on creating a long term business doing that your reputation could take a big hit justified or not.With court there is the time you spend on filings,attorneys,preparing for a case, going to court,etc.

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