I’ve requested financial statements, tax history, utility costs, and information on the property management company.

One of the benefits of a series setup is that Members can avoid filing separate tax returns for each series.

We have an accountant that will be doing our taxes, but I am in charge of keeping the books until tax time, and I want to start off on the right foot and keep my accounting very organized.Thanks so much everyone!

Most PM companies have a requirement where the tenants income needs to be 3x the rent per month.There’s more to it than that - but it’s a lot to type out.It’s a popular strategy for those looking to get into STR/MTR and can’t afford or can’t qualify to purchase a home themselves. 

Income-expenses. 

I like the Reno, NV market because of the proximity to California, above average appreciation, limited new construction, job growth, and low taxes.

One area that has caught my attention is the Pigeon Forge/Gatlinburg TN area - seems like there is a good rental income to acquisition cost ratio.  

we are building a building just like this in Columbus Ohio except vertical. we added kitchens and all studios and common commercial and mixed it in. multifamily is much easier to finance. we got a similar valuation. we don't have to buy 1 million dollars worth of furniture either. apartment hotels are what some people call them but we are underwriting affordable housing. we copied the hotel development rezoning applications in our market but went for multifamily and I had it underwritten at 15 million and we just had the number one debt placement broker look at it and appraise it for 20 million because they added a tax abatement. hotel development works because of the nightly rate and higher occupancy and no kitchens in every unit.

Any 'investment' can act as a 'retirement'.Roth is great because it is tax freeI personally like real estate also becuase your cash flow is normally shielded by depreciation.I like real estate further because there is less complixities / restrictions when it comes to IRA such as the 5 year rule, year you have to take distributions, RMD, Unrelated Business Income Tax(UBIT).Your goal is to have the best return and the most money at the time of retirement, what is the best way to get there?

Document your hours using a log.There are court cases of taxpayers not having a log and their position was thrown out resulting in added taxes, penalties and interest.