Well, you can be fairly confident in your cash flow, at least for a few years.  

My real estate agent there says he isn’t concerned with the permit situation in Rome and he invests there himself and manages quite a few of them for other clients as well but I’m not as confident in the government there as he is. 

Hi Ignatius, following David Greene's Core 4 strategy—realtor, contractor, property manager, and lender—can give you confidence to invest in any location.

Having lenders or partners upfront places you in a better and more confident negotiating position and in the event you find a deal and can't find the money, now you lost the deal and have to back out damaging your reputation as a closer.

If you’re confident in these numbers, it could help mitigate the risk.Exit Strategy: Your plan to refinance after construction is solid, but keep an eye on where interest rates are heading and ensure the cash-out refinance will cover the HELOC without leaving you in a tight spot.It sounds like you're on the right track, but if you're still feeling uncertain, it might be worth consulting with a local real estate professional or financial advisor who can help you analyze the deal further.

I'm really interested in getting started in property investment, but I'm struggling to feel confident in knowing where to start. 

Break it down step by step and you will feel confident to move to the next decision.  

The field has so much to offer, and I'm confident you'll do well.Looking forward to seeing your journey unfold!

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

I can tell you with confidence that Airdna's data in the report is inconsistent at best.