Also thinking about wholesaling as a means to build capital  @Makani Donaldson Do you know anyone in your market that owns MTRs and LTRs that manages their own properties and needs help?

@Tyler Garza With my CFO clients, I generally use 8% vacancy and 25%-35% operating expenses depending on if they are self-managing or using a PMC. 

Divide the long-term vision into manageable steps.

It’s smart that you’re looking into multifamily options, it can really help offset your living expenses while building long-term wealth.When analyzing deals, some key things to focus on are rental comps, vacancy rates, and property management costs.

If you can find practice tests, that is my recommendation - that is what I did after taking the required time component and did not have any issues passing the test. 

Quote from @Pamela Rivas: Hi Natasha,Here are some key points to consider about setting up a Mexican corporation:Setup Costs: $1,500–$3,000 USDOngoing Costs: $1,000–$2,000 USD/year (accounting and tax filings)Benefits: Tax deductions for expenses like maintenance, repairs, and managementBest for: Multiple properties or income-generating investmentsWhile a corporation is ideal for managing multiple properties, it’s NOT required to obtain an RFC.

Getting a rental license as an out-of-state investor is doable, but you’ll need to manage inspections and compliance.

Start by being actively involved with your PROPERTY MANAGEMENT duties.  

Reach out to a LOCAL property manager that knows the rental market BEFORE you go under contract! 

She doesn’t need local family to manage it.