Congrats on taking initiative @Tyler Stump , just doing that puts you LEAPS & BOUNDS above 99% of the people your age; and most people in general to be honest. 

If you had identified the property, the cost, the travel cost would be added to the basis of the property and depreciated.These initial investigatory costs are treated differently for flipping and rentals1) Flipping: the travel cost to investigate will be treated as a business cost and deducted as an ordinary travel cost.

I know we spoke a few months back when you were looking initially and I mentioned my office Vanguard Realty in West Chester.

My initial thought was to buy and hold for a while, but didn't think the housing values would increase this much in this short of a time in my area.From an investment perspective, would you sell or keep the rental?

Although that may be a good place to start, the time it takes to get there will be longer than you are initially anticipate.

@Ryan WilliamsonYou will probably not get a conventional loan for an LLC.But you may find a commercial loan with a local bank.You will definitely need a personal guarantee initially until your LLC can show enough history.Start building relationship with your local lenders.

But if I’m paying cash and the initial loan is covered, do I make the same calculations for each additional purchase?

I am using most of the same numbers for all of this in my initial analysis as I want to be very conservative with my numbers. 10% for property management, a higher amount for insurance (depending if the property is in a flood zone I will add more) and maybe $150 in utilities that I would have to pay month to month.

@Jonathan ShnoravorianI use a combination of the following for initial review of an area:City dataWorld population reviewNiche Crime heat maps available on Realtor.comLocal area police departments.

@Mulugeta Berhe Good initiative. you will learn a lot and will meet tremendous folks, which will lead to create opportunities. if interested in Commercial Multifamilies I would highly recommend reaching out to the following gentlemen @Hendra Tambunan @Christian Bowen @Vinay Ari;