Hi everyoneWe're out of state investors and handed over a rental property to a local Property Manager. 

If I were you, I will buy a house with cosmetic work and learn the business first. 

Or Business LOC?

If the option to purchase isn’t exercised, he can sublet the deal again to another tenant/buyer, possibly with increased rent and purchase price, depending upon the local real estate market. 

I'm a local real estate broker and property manager.  

Investing in New Builds: Considerations and ProcessNew Build Investment Options:Build and Sell (Fix and Flip):Pros: Potential for high profits with modern appeal.Cons: Requires significant upfront investment and market risks.Build and Hold (Long-term Rental):Pros: Attracts quality tenants, potential for higher rental income.Cons: High initial costs, market fluctuations.Process Overview:Market Research: Identify high-demand areas.Land Acquisition: Purchase suitable land.Design and Planning: Work with architects and obtain permits.Construction: Oversee build quality and manage costs.Marketing (Fix and Flip): Highlight new features to attract buyers.Tenant Management (Rental): Implement thorough screening processes.Advice:Educate Yourself: Understand local regulations and market dynamics.Risk Management: Prepare for potential delays and cost overruns.If you have any other questions/just want to discuss feel free to reach out to me directly!

It's an unnecessary expense to operate the business.

A self-directed 401(k) plan offers the small business owner one of the last significant tax benefits.

You typically need to register the llc as a foreign entity in the state you want to do business in.

Along with my 2 business partners I buy & build small micro-resorts and unique vacation rentals across the Appalachian region.