Hello everyone,I'm preparing myself to start investing in real estate, and a relative of mine is willing to fully fund my first turnkey rental for him so he can hold the property. 

Be prepared to adapt.

We do not know when we will, but every client needs to be prepared for the fact that if they do not price to sell today, they may end up having to keep chasing the market down.  

Your experience in a challenging market gives you tons of insight on how best to prepare for what may lie ahead (or already be here).

Almost nobody knows the comps for their cell service, their car insurance, or their health care insurance.2) make sure they are on MTM or when their lease expires, until there’s nothing you can do. 3) find out the local/state requirement for notice to increase rent, maybe go even farther out to avoid a winter vacancy  4) be financially prepared for the tenant to move out and spending thousands to make it ready for the next tenant while it’s vacant for a month or two (especially in the middle of the winter.)5) be absolutely confident that you’re right about market ent so you don’t spend thousands lose rent to vacancy and possibly get a lower quality tenant to make an extra couple hundred per month.

You need to be prepared to lose some clients.As for marketing, I think direct-mail marketing is a good tool.

A lawyer can prepare a good form, or Storage groups often provide a form for their members.

They are wrongRenovating, Furnishing & Preparing to list the property is the hardest partI’ll show you how we manage 15+ STR renovations at the same time across the US all while doing it remotelyLet’s dive in:Underwriting StageWhen we are underwriting an STR we make notes of all the renovations/amenities we want to add to the property.

I had my CPA prepare my federal and state tax returns and that came with estimated state income tax payments due quarterly which was helpful.

I recommend asking your CPA or tax preparer, as they'll have a better understanding of your business setup and advise appropriately.