This is where everyone started.Residential investing is very forgiving by nature, you have to try hard to really screw it up.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

What he meant was, he already knew it was a great deal and advised me not to get caught up with over analysis and miss out out on the opportunity.

I know that RTR positions themselves as “turnkey” but the reality is that they are more of a hybrid model - they set you up with everything you need and facilitate relationships with lenders, insurance, property managers, and so forth - but they are not the actual service providers.

I started off doing long distance BRRRRs until the rates went up.

@Brandon TylerThat’s an exciting step—getting your real estate license will open up so many opportunities to learn and grow!

Or, what assets are going to back up the guarantees?

If you decide to go the accountant/CPA route be sure to ask up front how much it will cost.

Having to “disclose” the work in the flip basically is mandating doing something that helps the buyer recognize the scope of the change which justifies the mark up.  

Warning:If you depreciate a property down near zero and then have to sell your property at a loss during a situation of distress...You could end up giving all the proceeds to the bank AND owe the IRS a big chunk of money for recapture.Long-term tax planning with real estate needs to be coupled with risk management and making sure you don't lose any properties.