I'm giving myself a year to learn all I can and save up a down payment for my first long-term rental in my local area.

I would like to meet investors here and learn how to make it in the world of real estate investing.

Learning by doing.

Especially since the current owner is staying on to help me learn the ropes.

I personally like doing BRRRs on multi-family homes that need work but not extensive remodeling.

Definitely helpful because it gives me insight on what to watch out for, and what to learn more about.

This way, all income and expenses related to the cottage can be run through the new LLC and its corresponding bank account.Additionally, make sure that you’re not mixing or commingling any personal transactions with your business transactions or transactions between the different properties to maintain clear separation and avoid potential issues.

(Other financing arrangements might be possible.)You can only obtain one home equity loan per year, even if you have fully paid off the prior home equity loan.Regulation of LendersTexas restricts who may lawfully issue a home equity loan.An unlicensed person is not permitted to make a home equity loan unless that individual is either related with the borrower to the second degree, or is the seller and is providing financing for the property.A home equity loan must be secured only by the home itself, and the lender may not attach the loan to any additional assets as collateral.

No way would I pay someone else $10,000 just so they would take half of my earnings.I think you could do better for yourself just using communities like this and taking $10,000 and to learn as young go.

Personally I would never go past inspection period without stepping foot in the property.