I used to provide detailed answers to DMs, which are private and help only the requester.

Those that cannot weather the storm get wiped out.Having cashflow positive properties provides a margin of safety you just do not have with negative cashflow.Why are you focused on buying in your backyard? 

Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.

I own and invest in Birmingham and would be happy to connect to share insights and introduce you to contacts in my network.I also work for a local property management company that serves many out-of-state investors.If you come across any properties, I’d be happy to provide rental analysis reports based on comparable rentals to help you evaluate potential investments.Looking forward to connecting!

However, you can file Form 8832 (Entity Classification Election) to change the LLC’s status to a disregarded entity, provided you act promptly.If you don’t make the election, you’ll need to file Form 1065 by March 15, 2025, adding complexity but retaining the same tax benefits, such as deductions for depreciation and repairs.

If anyone can point me in the right direction for this math, I will see if I can get it built into this dashboard.Thank you to any who can provide guidance, insight or want to collaborate. 

@Charles Evans Zelle and Venmo do not provide the same protections as a third-party rent payment portal.

My vision for CountOnCam LLC is to be a company that would like to provide a shared housing experience for women and children, immigrants, and low income families.

Connect with local wholesalers and investor friendly agents and provide your criteria to start receiving deal flow.

Can you provide guidance on how to get started and some effective strategies?