Whether it's better to form an LLC that will hold the actual real estate in the state I purchase or will a NY formed LLC be just as good. 

It was a dream purchase for me and my wife, but after joining Bigger Pockets and all the great folks on here helped my move into the STR game.We ended up with a standard 2nd home mortgage that was almost immediately transferred so we just started listing it on VRBO and AirBNB.

Real Estate has always been a strong interest for each of us, but other than purchasing our primary residences, no experience as investors.

If you do install any Cadet heaters though, for the love of god please pair them with the manual knob-style thermostats - the Cadet electronic programmable thermostats are maybe the single worst product I've purchased in my renovating life, and were replaced almost immediately after installing them.Doors and Trim. 

I figure I'll get losses of 20-30% of the purchase price as a general rule.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

I am trying to decide if this is a worthwhile endeavor.From what I have read, the main benefit is early access to MLS for purchasing homes and saving on commission costs while selling homes.This leads to two questions: - Is simply having early access to new listings worth $600, or is it only worthwhile if I plan on flipping and selling a property on my own?

Keep in mind that lenders typically won’t fund the land purchase so this will likely have to be done with cash.

Purchase price: $135,000 Cash invested: $80,000Turned a 2 bedroom 2 bath house into a 7 bedroom, 4 bath house.

Purchase price: $212,500 Cash invested: $50,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.