I haven’t bought my first property just yet, but I was wondering if $35,000 is enough to start buying a small single-family home in North Carolina.

My focus is very similar, single and multifamily long-term Buy and Hold rentals.Best, Jimmy

I do this every year, caviat is that it must be a single member llc, then you can combine it with your w-2 and deduct losses from your taxable income.

Wyoming is your best bet. 40 of my LLC's are there. 1 in Alaska, 1 in South Dakota and 3 in Colorado. 

I own two fully paid out single family homes through a 1031 exchange, my original thought process is to keep them long term since that's been what I've done in the past, however I am contemplating changing my strategy since I'm seeing a lot of movement in the local real estate market that people are flipping them within a month of their purchase on the home. 

Hi Kevin,Unless you have an imminent opportunity to invest and want to take a really active approach to real estate, it sounds like a good bet to hold for now.

(The sponsor has since said he'll amend it to only apply to homes rented as a vacation rental 200 or more days a year.)A new competing bill would apply the commercial tax rate of 29% to Airbnb properties -- like the first bill -- but only if the home is the third or more property of a single owner. 

Scatter site single family rentals force you to cover a lot of terra firma in your operations.

Including Single family, multi family, commercial, vacant, tear downs etc.

I inherited three single-family homes and have been educating myself on the various details of real estate investing and will be active here on Bigger Pockets (as well as reading the book...) so once again hello and nice to be here.