You will have lots of expenses with the formation of a new LLC, lawyer fees, costs to start up payroll for this company, workers comp, new insurances, immediate repairs, etc.

It happens.Recommend doing a thorough review of the area for actual tenant potential. - Build a profile of available tenant pool to be sure you understand their expected performance. - You don't want to rehab your property to Class A standards, but only have Class B & C tenants to choose from:(- How many rentals are in the area, where do the tenants come from?

I don't make much money from a tax return stand point but I don't think it'd affect my DTI since I'd be using potential income and I don't have debt.

The 70% rule is indeed a common guideline used to evaluate BRRRR deals, ensuring that you can potentially pull most of your money out on refinance.When lenders offer DSCR (Debt Service Coverage Ratio) loans at 75% LTV (Loan-to-Value), it can change your analysis slightly.

Would you entrust your criminal defense to a real estate attorney or a divorce lawyer?

Hello Everyone! I have a client that is asking me to manage a short term rental for them and i wanted to get some insight from anyone thats managing an STR currently as I have no experience in this field. I am interes...

So, if you don't, the buyer could potentially seek financial compensation for any damages or losses they incur as a result of the nondisclosure.

,Bruce, holding a property for potential appreciation (i.e. not actively generating rental or business income) is a valid tax strategy. 

I think there are other options at play with a potential cash out refi, acquiring a 2nd property while keeping the 1st, or even selling to acquire a 2-4 unit property instead of single family. 

But of course, living in Pueblo would present issues commuting to work and also, from what I've seen and read about, possesses less potential for growth, has higher crime, and will demand lower rents.I'd love to get a MFH  but they're prohibitively expensive in CS and I don't want to get over-leveraged for one, assuming I could even qualify.