Hi Josh, Additionally, consider building conservative assumptions into your financial projections to account for potential market fluctuations, economic uncertainties, and unforeseen challenges.

To provide clarity about my situation, I am currently job transitioning and would greatly appreciate insight on building a portfolio with income limitations.

These include reporting rental income, allocating expenses between personal and rental use, and navigating new limits on mortgage interest and property tax deductions under the Tax Cuts and Jobs Act of 2017.In places like Hawaii, STRs are subject to additional taxes, emphasizing the importance of understanding the local tax landscape.

As long as the total income reported on your tax return matches or exceeds the total income reported on your 1099s, and you have documentation supporting the breakdown of income by property, the risk of audit or inquiry may be relatively low.Pros of the approach:Compliance: Helps ensure compliance with IRS reporting requirements by matching the total 1099 income on the tax return.Risk mitigation: Reduces the risk of IRS flags or inquiries related to unreported income.Cons of the approach:Complexity: Requires additional documentation and statements to reconcile the reported income with the 1099s, potentially adding complexity to the tax return.Time and cost: The additional work required to prepare separate statements for each property may result in higher accounting fees.Ultimately, it's essential to weigh the pros and cons and consider the specific circumstances of your situation.

I have around $500K to invest and also have the opportunity to pool additional funds from investors, totaling approximately $1 million.Considering the complexities and governmental regulations in New Jersey, I'm struggling to make a decision.

Any insights or guidance would be appreciated.Thank you for your time and help!

In addition, I did not move into my property right away due to renovations, I told the lender this, and he did not seem to care at all.

Hi Stefan, Finding a passive money partner for your real estate investments, particularly for fix-and-flip projects, can be a fantastic way to leverage additional capital while spreading the risk.

But, the point is you want to understand the rates/terms of the loan you are using to make sure that you are not paying a lot of additional costs or pre-payment required to get the cash out a few months early. it may very well be worth it but you want to compare apples to apples. 

SFH home with room and pre-permission from the county to build 2 additional units!