I made the submission then about 2 days later.. get a e mail Hey we love it your approved subject to a few due diligence items next step is to send of 10k .. well this was a multi million dollar deal ..

Ft.556 E Shore Rd$5M3,900 sq. ft.$1,282/sq. ft.5 Auidneck Ct$3.09M3,200 sq. ft.$965/sq. ft.30 Battery Ln$2.53M3,200 sq. ft.$791/sq. ft.597 Beavertail Rd$7.82M5,300 sq. ft.$1,475/sq. ft.541 Seaside Dr$4.2M3,400 sq. ft.$1,235/sq. ft.4 Dewey Ln$4.05M2,700 sq. ft.$1,500/sq. ft.Step 2: Adjusting for SizeSince the planned home at 245 Seaside Dr will be 4,000 sq. ft., I used an estimated price per square foot within the market range:Conservative: $1,200/sq. ft. → $4.8M ARVModerate: $1,350/sq. ft. → $5.4M ARVHigh-End: $1,500/sq. ft. → $6.0M ARVPremium Luxury (based on 4 Dewey Ln & 597 Beavertail Rd): $7.1MSince 245 Seaside Dr is a prime location and waterfront lots in Jamestown have high demand, I conservatively estimate $1,500/sq. ft., leading to an ARV of:4,000 sq. ft. × $1,500/sq. ft. = $6.0M – $7.1MStep 3: Justification of ARV at $7.1MWaterfront Location: High demand for oceanfront properties in Jamestown.Luxury Market Trends: High-end buyers are paying $1,200 – $1,500 per sq. ft. for new construction.Comparable Sales Support: 4 Dewey Ln and 597 Beavertail Rd confirm the $1,500/sq. ft. estimate is realistic.Low Inventory: Waterfront lots in Jamestown are scarce, increasing property value.Your ARV analysis looks pretty solid based on the comps you’ve used.

You can continue using TurboTax if you're willing to learn rental tax rules, as rental income is reported on Schedule E with deductions for mortgage interest, property taxes, insurance, repairs, and depreciation.

I would have internet and a streaming service -I like FUBO because they have everything else but a focus on sports, which can be hard to find on some of the other streming services...They should have their own accounts if they want to watch their favorite series or whatever...

I would make the expense codes mimic the Schedule E if using quickbooks.

Use Real Estate By the Numbers as your guide, make sure it tracks the loan pay down and depreciation and have all of those numbers pour into a Schedule E.

(H) an officer, director (or an individual having powers or responsibilities similar to those of officers or directors), a 10 percent or more shareholder, or a highly compensated employee (earning 10 percent or more of the yearly wages of an employer) of a person described in subparagraph (C), (D), (E), or (G); orIt is best to speak with a qualified tax attorney about the specifics of your situation.

Join the chamber, maybe find a couple of boards to sit on, attend local sporting events and talk with people while you’re there.

Quote from @Sean O'Keefe: @Ignacio Vidal Traver This thread also has a great hours tracker / activity log https://www.biggerpockets.com/forums/51/topics/816680-real-e...Sure, sent! 

You basically kept your checkbook on a computer and then used classes to track income and expenses by property which is what you need for your Schedule E.4.