I have $1.5M in the bank, and I’m trying to figure out the best move for my situation to start building out my portfolio and making moves towards financial independence.

or would you rather be more involved in the process of purchasing/selecting coverage?

Hello, fellow RE family.I just completed my first flip in Sachse, TX (a suburb of Dallas) and only have a few final touches remaining, with the decision on SOD being a high priority.

In that case, the taxpayer had individuals testify to his character and work in court, which is an unusual scenario and highlights the difficulty of making such a claim.If the TP cannot qualify for REPS, they may still be eligible to claim material participation in the deals, even with less than 5% ownership in some of them.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I’m not suggesting you can’t successfully complete the BRRRR method but if you are selecting your markets based on where that strategy is most attainable you’re going to make regretful investment decisions because most who chime in will promote markets where you will be able to obtain a favorable cash out refinance while ignoring everything else that supports whether the market has a good underlying investment thesis or has a a more attainable alignment of sale values and appraisal values. 

Look for those "C+" neighborhoods where there's potential for growth, but be careful of areas that might be too rough, as that can make property management tough.Also, consider connecting with local investor groups or meetups in Memphis to get a more targeted understanding of the market.Good luck!

Background: I offered on a condo (still a newbie to investing myself, although this would make my third STR and second in one market), and the same day a second offer came in, higher.

Maintain transparency by clearly outlining loan terms, interest rates, and repayment schedules, and ensure consistent communication throughout the lending process.

Moreover, Memphis’s real estate market has shown resilience and stability, making it a promising location for long-term investment.As you continue your research and networking, I hope these insights help in your decision-making process.