This time of my life has taught me something: it's not how much you make, but how much you spend that determines whether or not you're financially stable.

You may want to consider working with a CPA in the future to save you the hassle of doing the return and to also provide you advice/suggestions.You may also want to see if the accountant can review the return you prepared to determine if it was done accurately.

After the rehab is finished I have an appraiser come through to determine the new value of the house.

After all the permitting, materials, labor, and associated cost are payed the total cost was $290k.In this case would the market value be determined only by demand for that area?

My wife and I have been doing research to determine the best place for us to start buying rentals to hold long term for cash flow.

When comparing PM rates you gotta compare apples to apples and determine what service level you want.

I am very determined to make all this work and still make good financial steps to the benefit of all of us.

Home inspectionHave a home inspection contingency on every contract where you will buy the property.Get the home inspection and ask to speak with the home inspector immediately after he is done with the inspection.This 5-10 minute conversation will allow you determine if you should move forward with the deal, allow you to understand what exactly needs to be fixed in the house and approximately what the cost should be.

@Ashok BhupathirajuJust because you can do something doesn't mean that you should do it.I think you should mention what you are trying to accomplish and we can determine if the steps you are taking are achieving your goal.What benefit are you obtaining by having items run through the LLC while the property is in your personal name.You should consult with an attorney but you will likely be named in a suit if something bad happens just because the title is in your name.

It is way easier to determine rent rates and an ARV on single family properties, there are also more of them for sale.