I personally have no connections with anyone who is involved in this niche and I'm wondering how other people have started their journey.

.• I purchased a small 1B/1Ba condominium in a high rise building in 2004 for personal use.• In 2010, I moved out and decided to put in in service as a rental unit.• I was able to keep it well occupied and leased throughout 2024.• I sold the condo unit in late 2024 for a nominal profit.That brings us to today. 

Quote from @Sharon Bancroft: @Cameron MarmonI had this same situation and my tax accountant filed the change for me ( one time filling) and we now file it on our personal as a disregarded entity.

It's stronger in court if they do it, nothing personal.

There are any number of Real Estate schools available to you, so choose the one that compliments your learning style, whether that be online or in person or a hybrid. 

They're long distance typically so viewing the space in person isn't usually a priority, and this saves you time from having to drive over and schedule facetime tours :)

If an in-person visit is not feasible, we can easily arrange video tours to accommodate your schedule.

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

It's like having a personal mentor guiding you toward real estate greatness.Unlock the Secrets to Real Estate Success by diving into learning—read, attend networking events, join a coaching program, and more!

It's not a personal sale between you and your son, but rather a sale from one LLC to another.