First step would be to read as many books or listen to as many podcasts as you can to understand both the buying process and how to identify a property as a good deal or not.

- assuming 500hrs each, we have spent enough time this year to get to that but wondering if thats a red flag for IRS with high chance of getting audited (we travelled 7 times over the past year to work on the unit and spend at least a week each time excluding the time we spent managing the guests)- Lastly, our understanding is that each can take 50% of the final offset to our W2 assuming we prove material participation eligibility. 

Some kids don't understand what a contract is and it really helps to reach out to their guarantor in situations like this.

I am not convinced that granite countertops will allow you to increase rent enough or reduce vacancy enough to cover their cost.In a typical smaller house you might spend $6000-8000 on granite countertops, if it even allowed me to increase rent by $100/month it would take 5 years to recover the cost.Our tenants seem to be happy with laminate countertops that cost me less than $1000 to self-install ( I have done this in multiple houses).Can you help me understand the math of ROI on this?

From my understanding, triple net leases can present an appealing route for those venturing into commercial real estate investing.

In addition, Brooklyn is filled with young professionals and has a lot of fun stuff to do.2) I want an appreciation playI understand cash-flow near NYC is tough, so I want the appreciation play to be strong via the forced appreciation and via normal appreciation.

From my understanding you about have to install a pool in AZ for a STR.

I deeply appreciate any insights, advice, or anecdotes that you can share to help me better understand Subto financing and navigate the compensation aspect for real estate professionals.

The other spectrum is when the investor plays attorney and did not run it by an attorney and realizes they did not understand the legal process and are like “wait, I bought this thinking I could do X but I cannot because of Y”, - and a common response is “your attorney did not advise you of this in due diligence” and the response is we did not use an attorney.

From what I understand if you buy a distressed property at a good deal and the county has the home valued higher than what you purchased then you have got a good case for the county to lower it to your purchase price.I'm going through the process for the first time now.