. $7k sounds more reasonable but I think setting 5 to 10 years for you and your sister to reach Financial Independence and quit W2 job (assuming you also have W2 job unless you own a business or are a real estate agent) is really challenging.

Setting up an LLC can be helpful for liability protection (even early on) since it separates your personal assets from the business.

Quote from @Daniel Amsalem: If you have an Airbnb in DC, Maryland, or Northern Virginia (NOVA) or want to, I'd ask you provide feedback to the City of Alexandria regarding their proposed regulations.Regulations: https://www.alexandriava.gov/sites/default/files/2024-08/sho...Feedback Form: https://www.research.net/r/AlexandriaVA-ShortTermRentalsAlexandria sets the example for all of DMV as the most permissible county/region. 

Run through some of the features you will need like setting up a property, moving in a tenant, receiving rent payments, and publishing online applications.Pay attention to which platform feels the best to you as you perform these functions.

I would say each section has it's own set of criteria I don't budge on. 

I would also highly recommend you set some parameters when thinking about working with non-accredited investors or if you are one and want to invest on a large deal. 

A small multifamily property is a smart choice for a first investment—it offers a great balance of income potential and manageable scale for someone new to the space.Don’t worry about being ambitious; it’s clear you’ve done your homework, and you’re already ahead of the game by setting a clear goal.

You can click on my website link in my signature to set that up at a time that works for you. 

When you help people with their issues, it will help you also.I haven't set up my facebook business page our completed my profile on Bigger Pockets yet, but I need to! 

If supply exceeds demand, then the lower cost supplier will set market rates, and high cost supplier will lose money.for the current case of real estate, most markets have more rental demand than supply.