If you’re set on condos, ensure you’re targeting areas with strong rental demand and minimal HOA restrictions.Regarding an LLC, it’s great for liability protection, but it won’t necessarily give you tax benefits unless structured strategically.

Under federal law (ADA and FHA), true service animals and emotional support animals are exempt from pet fees, deposits, or rent, but the tenant must provide proper documentation if requested.

By providing the necessary funding and covering renovation expenses, we ensured the project stayed on track and within budget, leading to a profitable outcome.

Having reasonable expectations, hiring a local professional (Realtor or PM), doing your research, and doing everything right (i.e. pro photos, professional design, good renovation, proper amenities and location, etc) are the keys to success in 2025.

What kinds of policies do you think might help ensure ongoing affordability as Texas continues to grow?

It is nearly impossible to follow NYC's requirements and run a proper housing business.

However, to ensure your plan remains compliant, including plan document maintenance and plan operation, you should engage alternate service providers.

A good manager will handle tenant communication, security deposit transfers, and ensure a smooth transition for you.Changing managers doesn’t have to be difficult—following the agreement and partnering with a competent new PM will help you get things back on track.

It ensures the community is full of active LP investors, not just anyone. 

If multifamily properties in your area are priced well, it might be worth moving forward sooner rather than later.Risk Tolerance: Since you’re the sole provider, it’s crucial to ensure you have a solid emergency fund to cover unforeseen expenses, especially during vacancies or repairs.Long-Term Goals: Think about how this investment fits into your long-term financial goals.