This can include the time spent acquiring or improving rental properties, managing rental property portfolios, and advertising for tenants.Just keep in mind that you can’t combine time spent by both spouses to meet the 750-hour test. 3.

I can offer insights on both single-family and multifamily properties, including how to start investing out of state.

That includes potentially checking out multiple brokerages in the same franchise. 

I'm interested in buying STR properties in the Carolina coasts, including Myrtle Beach and the Outer Banks.

(one that includes dates purchased etc so I can see how quickly you got to this point?) 

Go into the forums, ask questions, and create your own posts!

My personal opinion is that a shower door is nicer, but wondering if that's going to create maintenance headaches later. 

I see the same things from borrowers or those that take on mortgages.understand the concept.. but did not read much of the 30 page Mortgage document.Or read and understand the note.With so many of the larger HML or DSCR loans being backed or bought by wall street firms you know their lawyers are creating these documents and I suspect virtually no one reads every clause in them and or understands what they mean in relationship to the transaction and what your signing.

Original Purchase Price$305,000Down Payment$28,793Closing Costs$11,527Rehab Costs$80,500Mortgage Costs$30,056Utilities$1,275Taxes$2,729Insurance$1,251STR Furnishing$10,142Total Costs$125,953LTR Income$7,000Net STR Income$21,234Total Income$28,234Total Capital Invested$109,246Appraised Value$540,000Loan LTV%70%Loan Amount$378,000Mortgage Balance$325,148Closing Costs$9,805Cash out$43,047Net Capital Invested$66,199Starting Equity$133,207Value Created: $67,008Hours Worked: 595Hourly Wage: $113I was only able to refi at 70% LTV, so I left $66k in the deal.

However after all the work thats required which includes landscape, parking lot, fencing lighting and interior/exterior work, it looks like the presumed cost of remodeling it will be double that, although Im not positive (still taking bids).Ive priced a comparable property in our area which has similar square footage and lot size and they seem to be going between $700-800k, and so my question is: based on a higher than expected construction cost which is necessary to finish our project, one which will exceed the amount of money of what a similar property goes for in our neighbrhood, should I continue with this project, or an alternative plan would be to simply beautify it for approximately 100-150k and ditch the plans, and flip it instead for approximately 700-800k now that its zoned commercial.My fear is that if I do invest the moneys to finish the project over the budget I initially priced it for, and the business doesnt take off, I would initially lose money on this investment.Thank you for taking the time reading this.