Also ensure they are up-to-date on the most recent construction accounting practices, audit procedure and tax regulations.While price is a consideration for everyone, remember that the cheapest option is not usually the best option.

That also does not account for any other expenses, such as vacancy, make ready, PM, lease up fees, and reserves for maintenance.My suggestion would be to look for homes that are further north or east where you can likely get a better price and higher rent....Anna, Sherman, Celine, Van Alystene, Aubrey, Cross Roads, Little Elm, Denton, Forney, Princeton....Lavon.

There might be some differences with your capital account, however depending on some things.But overall you just plop the asset with its adjusted basis and historical depreciation onto the new fixed asset listing of your partnership tax return.

This is one person to call, one invoice to pay and one reciept to record in my accounting software. 

After searching for the 3 month, they could not find even a single 3 bedroom place that was less than $750. 

I don't think as just a single investor it's something I can do at my own, at scale.

(They’re expensive because they swear you need to replace both units to use new Freon.)Over the last 10 years I’ve had at least 8 units replaced this way saving $10’s of thousands and I’ve yet to have a single problem. 

Make sure you know every single law like notice periods, security deposits, screening/discrimination laws, support animals and so on.

Single-family homes is for strategic and savvy investors, as bedroom count is king, especially as they target the multi-generation family and group-booking tourists. 

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.