We have created work instructions for every step of the process so we can maintain consistency in how we evaluate properties, communicate with tenants, market our properties, handle rent increases, manage property turnover, etc.....

@Brice Alef-Torrisi To manage finances for multiple properties, maintain separate bank accounts for each property if held under different LLCs to avoid commingling, which could jeopardize liability protection and complicate tax deductions.If properties are under one LLC, using a single account is fine but requires detailed record-keeping for each property.

Owning a duplex at 20 is a huge accomplishment, and it’s inspiring to see you’re already planning your next move.From my perspective, real estate investing is a long-term game focused on building equity, paying down debt, and maintaining stability over chasing short-term cash flow.

Unless you use a local professional familiar with the market, who you trust, best way to know a good deal is to study the market.

Meeting the 100-hour material participation rule qualifies your STR income as active as long as no one else participates more than you, This will allow losses to offset W-2 or other active income.While there’s no official IRS form to track hours, maintaining a detailed log is essential in case of an audit.

While I do maintain a relatively modest percentage of my assets in money market instruments, corporate debt funds, and high dividend stocks, I remain most comfortable with the investments I specialize in and know best.  

I also treated studying like a full-time job.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

However, employer profit-sharing contributions (up to 25% of W-2 wages) are not subject to FICA taxes and do not appear on the W-2.To stay IRS-compliant, ensure your Form W-2 and Form 941 properly reflect deferrals, and maintain a reasonable salary to avoid red flags.

Small is easy to maintain as long as renovations were done correctly.