Goes back to better screening, regular inspections and better leases.

From my understanding, if its passive income, just a room-by-room rental, it would go on your schedule E just like any other rental. if its active, like a short term rental situation or mid-term, something like an airbnb or bed and breakfast where you're actively including extras, it would be filed on a schedule C. disclaimer, im not a tax person, so double check this with your tax pro. when you go to qualify for your next purchase, whether that's for primary or inv., using a full-doc loan... if its schedule C, you would need to do a 2 year average of this income in order to use it. its looked at as a business, and self employment income. if its schedule E, theoretically you could use the schedule E income calculations just like any other rental even after the first filing.

Forced “partnerships” just have a very high probability of failure.The first thing I’d do is check out the buyers personal financial statement.  

I have been told to use Baselane so that they can ACH transfer for free, and that baselane also gives me 4.5% APR for my money saved there (i.e. security deposits, etc.)However, I don't like Baselane's withdrawal limits, and also how long it would take for baselane to transfer money to my primary checking accounts, at JP Morgan.

To get the most out of your networking, make it a practice to participate in forum discussions on a regular basis, go to meetups, and interact with other users.By actively participating in the BiggerPockets community and connecting with other investors, you'll be well-positioned to find your first cash-flowing real estate deal in 2024.

During the winter there's a lot of demand for STRs, especially near the entrance to Loon.As an example, check out 21 Franklin St in Lincoln.

I work in Studio City and would really like to check it out.

Check references (title company, other private lenders, ask for details on past projects)2.

I have checked rental comps on the BP calculator and have found that homes in this area with these stats can rent for around $1100, but this is nowhere close to the required mortgage payment (Realistically I think I could have 2 tenants paying at least $1000 per month each, though this calculator has me thinking otherwise).

Effectively, record every expense, Home Depot run, check written for labor.