Hey all,Just wanted to introduce myself - bought a duplex in Los Feliz over the summer with a few business partners and will be renovating the property while living there.

I could see a requirement, perhaps under the Patriot Act, that requires all landlords to get a SSN/TIN from everyone living in a unit and report that (or lack of) to the federal government.

I have 1 partner who provides up to 75% of the down payment, however, my goal has always been to live below my means, save money, and invest the saved money as a downpayment. 

a lot of people will poo poo this, but I also live in a market where cash flow is low, property taxes are high and properties are expensive (which is a relative term).

I need a consistent partner who wholesales virtually in the Central Indiana market....Every deal ive ever closed was with someone that didnt live in my market......I am boots on the ground on steroids lol

@Marcus Stokescan you start with a live-in flip or house hack instead?

I also suspect inflation will drive continued migration to lower cost of living / lower tax states.  

Now to the bad news: it is REALLY hard to be a 20yo real estate agent and make a living wage, let alone generate cash for a down payment.

Yes 1k sqft is small but probably much better than living with family.

I noticed their business is listed as an LLC on their Zillow profile, and we also found that they have a few other unrelated LLC businesses that didn’t seem to work out for them over the years and were short-lived.