What data points are crucial for you to find a potential flip?

Considering the high property taxes unfriendly laws towards landlords , inventory, and prices here, I’m pondering out-of-state investments for potentially better cash flow.

- Lina Hi Lina,Your situation is very common, and deciding between selling or investing more into your property to potentially increase its income is a pivotal choice.

If you have the capability to answer calls at any time of the day potentially and do not mind catering to guests, managing cleaners, and contacting contractors, self management is a fine option. 

If you have a STR that self-manage, you may potentially be able to treat it as 'active' instead of 'passive' which would allow you to offset the losses against the other forms of income such as wages, interest and dividends.You may accelerate the paper-losses by doing a cost segregation study.

Hi Batool,I saw a post you started a while back about traveling costs.You want to keep travel of your travel costs as they will likely be considered deductible or potentially start-up costsSome travel costs includeFlight, Hotel, Car Rental, Meals, mileage rateBest of luck

@Jalen De LeonFirst question to ask a potential CPA...do you personally invest in REI. 

We have not yet reached our full cashflow or market value potential, and likely will not for another year (as most tenants are now in 1y leases expiring again in Dec), but we are in amazing shape with this value-add process.”For context, the ‘day one’ true net cashflow for this property was about $800/mo, and the full true net cashflow potential with market rents is just over $6,000/mo.

We are just starting out and we are both working full time, so the point in having a potential tenant portion to our website was to direct the potentials to the website where they can review the minimum qualifications.

Can potentially open a HELOC on this property.