Here are some specific questions I have outside of the problems with the first renovation. 1.

Welcome.Whether you're just starting to explore or are looking for specific advice on a project, the community here is rich with experienced investors who can offer valuable perspectives.

Specifically two member LLCs.

Any specific advice regarding taxes and rental income?

To calculate your land value, take into consideration the average price per square foot or acre of the comps and apply that to your land.Steps to apply comps to your property:1) Compile multiple comps: Find a real estate agent to help you put together a list of comparable properties.2) Make adjustments: Analyze each comp carefully to determine whether it has advantages or disadvantages when compared to your property and make adjustments to the value upwards or downwards as necessary.3) Determine the use of weighted average vs average: Depending on how close the comps are to your specific property; you may consider utilizing the weighted average method to place a greater weight on those properties that more closely resemble yours.Using comps to value your land can add a component of complexity and subjectivity.

Wholesaling can be an alternative strategy in the real estate market, but its success varies based on Richmond's specific conditions.

Do we just need to ask the city about every property we're interested in or do we need to wait until we're under contract on a specific property?

  "203k" is a term specific to FHA.There are all sorts of "w2" jobs. 

I am specifically looking to jump into the short-term rental industry with AirBnB.

Mods, if this is in the wrong area please move or delete.I pay for a monthly service that gives daily updates to the mortgage market, specifically how MBS are trading and market influences that sway pricing.