So they can work well, especially for investors looking for a more hands-off approach, but it's crucial to do the math and understand the specific property's potential.If you are still looking I would be happy to help you out in your search!

In flipping you will make your money when you buy the property, therefore quick access to funds is crucial, and that's why it's very difficult to flip a traditional MLS based purchase.

First, **reliability and speed** are crucial—hard money loans are often used for time-sensitive deals, so you want a lender who can fund quickly.

Hi Guillermo,Your experience with the single-family residence investment highlights several key aspects of real estate investing.

Hi Bob,If the LLC is a single-owner LLC, is it still crucial to have an attorney create the operating agreement versus a service like LegalZoom?

Quote from @David Alonso: Thank you for the advice, I didn't know it was against the lawThanks Only certain aspects are against the law, but I don't want you finding out later, after it's too late.

It’s best to consult a tax professional to confirm the specifics of these deductions.Also, paying fair market value for the home is crucial for documentation and avoiding any potential disputes with siblings.

When financing a large-scale fix-and-flip project, assessing and managing risk is crucial for success.Risk Management StrategiesContingency Budgeting:Set aside a contingency fund (typically 10-20% of renovation costs) for unexpected expenses.Time Management:Develop a detailed project timeline to keep renovations on track and avoid extended holding costs.Partnerships:Collaborate with experienced contractors and real estate agents to mitigate risks associated with repairs and market positioning.Insurance:Obtain comprehensive insurance coverage, including builder’s risk insurance and general liability insurance, to protect against unforeseen events.Exit Strategy:Always have an exit strategy.

Having the right PM is crucial.

Networking with others who share your goals will be crucial, but having that firsthand experience will make scaling much easier.