Financing through a personal loan usually offers better rates and lower costs, but using an LLC builds business credit for future investments.

Since I work full-time, my near term focus is building my property portfolio and maximizing the tax benefit. 

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

Once you build it correctly, you can offer it to other investors as a service.

I’ll definitely make that a priority as I build my team.I also appreciate your point about using different contractors based on the scope of work.

Being based in Austin, you’re in one of the most dynamic markets out there, which gives you a fantastic foundation to build on!

City recently did a building inspection and we noticed the tenant is smoking in the unit (cigarettes and marijuana), food waste everywhere leading to building pest issues, and there are 5 people living there now (3 adults and 2 kids).

House hacking is one of my favorite investment and wealth building strategies.

Go straight into focusing on creative finance, subject to, and minimal cash down deals and build from there.I want to hear your thoughts on what direction to take here if you were in my shoes given these constraints (full time job and a few thousand saved) and you want to optimize for passive income first, then value appreciation?

You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!