@Kunal PatelFICA taxes that you pay for your self are not deductible.

I have self managed and if you are going to be living on the property I would say it would be a waste to have a property manager. 5.

That said, if you have other skills that would benefit an appraisal firm, (hate to use this phrase but it works) you are a self-starter, and find the right opportunity, I'd think you can be up and running with a decent income in a year or so.

Purchase price: $360,000 Cash invested: $26,000 Sale price: $1,325,000 Bloomfield Mini Storage was approximately 15K square feet with about 1600 of office space ad the remaining being typical drive up access self storage units.

I only have a few rentals myself but I negotiated lower and bought my self tons of rehab work.

Many HMLs are lending out of their personal trust or self directed IRA - they are not true professional lenders.

No property management fee, given we self manage.

So if we use it maybe to acquire a line of credit with a bank and use it to buy properties and then funnel that money back into the ranch then it could fund it self.

I have done apartments and self storage, so this is a little outside my core competencies, but if the price is right, I’d like to investigate it more.Thank you in advance!

To be very honest, you are starting at an amazing time in your life.Now, to get started - if I have to tell my 23 year self, I would say, start with a small SFR or a duplex and house hack it.