Real estate investment is a time-tested method of building wealth and generating passive income.

Likely rental income 3 of the 4 units at $6,500.

Then your operating agreement (or JV agreement) can specify that you will be managing the property and that your sister-in-law will have the more passive role.

We are interested in making use of the STR tax strategy to offset our W2 income this year (work 100+ hours, average rental less than 7 days, no one else worked more than us).But1) Can we only keep it as short-term rental for 2024 collecting minimal STR rents and convert it to LTR in the following year (2025).

Build to Rent promises higher income and appreciation but demands a significant upfront investment.

Plus is a great income if you decide to rent it.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

The house to produce some income, the acreage to sell to a developer some time in the future.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Non deductible, Better Proximity securing loans) "ROIsoonest months"        Unknown*  “Cheapest”. 2nd. 3rd     Unknown* Deals, Off Market, brokerage, government, 4thJudicial, Move to USA 1031Tenant Management due diligence   Unknown*Previous landlords Credit score,eviction record, income to debt between 40 and 60%,hours at home,Pets, poor character appearance Ie tattoos,drugs,crime,personality,dirty car.Value Add focal points          Unknown*Raise the rent,Rehab, maximize rooming, section 8, Reducing management “general”Rehab etiquette       Unknown*compartmentalizations & entry,Colours, Lighting, Fixtures & Amenities, floor, bathroom cheaper / kitchens, fixed stylization.

Using the rental income should help you buy more...if you have the other things needed for a loan like that.