Some yes, some no.

I moved from abroad to USA 2 months ago (from Poland, originally I'm from Belarus) and now living in Miami, FL, having my greed card.I have no real estate background, my carrer abroad was focused on IT sales, such as software and hardware products & services.

Also don't forget to get an extra bank account for security deposits and set aside money for repairs.

There are no licensing req, no standard forms or association you can turn to.

And then I would be depositing checks from my HELOC into my bank account and using that to pay of my credit card.

You will also need this info for contact information, etc.Request in your offer a letter signed by both the seller and tenant agreeing on the current value of the security deposit.

There's no such thing as "no cost" to anything since at a base level you're going to pay taxes.

I was doing a lot of legwork and still paying RE agent for the transactions up until got my own license.pros: no commissions in your transactionseasier qualification as real estate professional to offset high W2 of spousecan get access to any house/ easy logisticsmore control in the transactionMLS access with all the information on tip of your fingers, you can move fast with the deallicense knowledge helps to make better decisions and gives broader understanding of the industrycan legally do property management for others, wholesale (many states now making outlaw to do it without license)cons:need to take an exam (it needs preparation and to be good not just barely pass you need to study)fees you pay along the way (MLS, brokerage(I signed with investor-focused on and have a monthly fee and a transaction rate))self-management including taxes and feesneed to relicense + paid education Don't forget the biggest con.

What areas seem like they are good today and have more potential over the next few years...I am looking to invest in multifamily properties this year under 600k...no brrr, no flipsAny feedback and response os very well appreciated.

I will NOT have any depreciation recapture because no depreciation was ever claimed/deducted.