The CAP rates aren't great, the vacancy rates are high, majority of multi-family locations are in areas with unreliable tenants.Overall, it just seems like it's difficult to achieve reliable passive income here. 

Even if they are investors maybe they’re got super sweet super secret STR income plans or house hacking by the room plans that generates much more income than your plan.

I used the LLC bank account all 2023 and now my accountant is saying I need to file under the LLC which the difference in what I will owe is $9600.00 filing as an LLC as apposed to filing as a S-Corp which i would owe $2000.00.Is there anyway to file as an S-Corp or am I stuck?

This feels excessive for wanting a passthrough corporation out of Wyoming and a local llc in Illinois where I work and produce income as self employed.

That could crush buyers who already are tight in coming up with enough money for a down payment and closing costs.

Credit score requirementJob/income requirementDescription of yourself and other tenantsTo maximize your reach and find potential tenants, utilize various platforms, including:FacebookCraigslistApartments.comZillowRoomsterRoommate.comResponding to InquiriesOnce you create an awesome listing you will start to get inquiries.

Failure to repay the loan according to the plan's requirements could result in penalties and tax consequences.Tax Implications: While 401(k) loans are generally not subject to income tax or early withdrawal penalties, there can be tax implications if the loan is not repaid on time or if your husband defaults on the loan.

Additionally, basing the loan amount on past below-market rents seems unfair, as lenders should consider current market value and potential rental income.

There’s a few options:1. conventional loan: this assumes your debt to income could support the mortgages2. commercial loans: these would likely be similar to what you are in now.

Lastly make sure you have a high income if possible to help fund those assets asap so you can have flexibility when entering the real estate investing world.