@Kenneth Joseph Perfido If you’ve moved to a new state and plan to conduct business there, you generally have two options: register your existing LLC as a foreign LLC in the new state or form a new LLC in the new state.

I would recommend buying a standard SFH with opportunities for an ADU, or a split floor plan where you could rent out the rooms!

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

@Jay Hinrichs i'm not planning on scaling this model very big.

🙌Once goals are set, it's time to reverse-engineer investment plan.

Alternatively, if you’re using QuickBooks Online with a plan that includes the "Payments" feature, you can collect rent directly through QuickBooks while staying on top of your bookkeeping

I hear a lot of people discouraging folks from getting licensed if they don’t plan to be full time, and there is something to be said for that.

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

This may come into play as you near the end of life and need to think about estate planning.4. 

She prepares all the numbers for me to review and then we discuss issues within the business, create an action plan around them and wrap up.