This approach would not yield significant immediate cash flow but could lead to equity growth, tax deductions, and property appreciation over time.

Mid term rentals are going to work best in Canton, Fells Point, Federal Hill, Locust Point and Charles Village.

If you qualify, it is a nice option.In the IRA format, you need to start with an IRA held by a non-traditional custodian, then have the IRA make a single investment into either an LLC or Trust to obtain checkbook control over the IRA.There are a few firms that specialize in establishing a checkbook IRA trust.If you are investing in non-liability risk assets like funds and syndications, there is a clear advantage to the trust as it is not considered a business and therefore not under the purview of the CA Franchise Tax Board.If you will be investing in rental property, the limited liability protections offered by a LLC may outweigh the cost and headache of California filings. 

Relationships with licensed trades may be limited due to a lack of experience, and familiarity with things like permitting, property management, and short-term occupancy taxes could be a hinderance.

It is against federal law to require all tenants to have a social security number. 

I figure the single-family strategy will have more advantageous tax benefits to flipping, and I can flip it more quickly, possibly in just a year and a half.

He is also wondering if the taxes would be less if he just sells the property outright.

Tax compliance: Keeping good records of your income and expenses will make it much easier to file your taxes accurately.

💡 Good Economy, Costly Loans: A robust job market attracts homebuyers, but it also signals to the Federal Reserve not to lower interest rates.💰 Borrowing Bumps: While the Fed doesn't control mortgage rates directly, a high-interest environment means pricier borrowing, including home loans.🔮 Future Outlook: Despite the spike, experts predict a dip to the low-6% range by 2024.

Join FB groups for your markets and get on the list of your local wholesalers.Get your finances together so that you know where your tax records are and how much you have for a downpayment and what your credit score is.