If this sounds like your perfect playground, go for it :) There are STR restrictions in these areas, so make sure you know what you're buying before you do. 2.

Getting an LLC in place from the start can provide peace of mind and give you a chance to familiarize yourself with the process before expanding your portfolio.

The reason to have comparables is if you are representing someone or perhaps purchasing a house for yourself to live in.

Do I get the appraisal?

Hi Jonathan,Congrats on your first big renovation deal—it’s an exciting challenge!

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

In my experience, you either put the hours in up front or at the end, but either way you (or someone on your team) has to do it.

The idea is to leverage pre-existing networks in a way that builds instant credibility and gets responses fast.If you want to implement this strategy, here’s a link to the exact resource we used:👉 Spreadsheet Link Here (just make a copy for yourself)I also recorded a short video walking through how we set everything up, but since BiggerPockets has rules against sharing that kind of content, feel free to DM me if you have questions on execution.Anyone else using creative co-living marketing strategies that are working right now?

That's what we do and we basically tell the students that "if we aren't willing to invest, it's not a good deal and you shouldn't do it." 

It is my understanding that the new owner will have the house at the cost basis of my purchase price, for calculating capital gains taxes or depreciation.For gift tax purposes for you - FMV.For capital gain tax purposes for the recipient - your original basis/purchase price