Low Fees: To maximize their returns, real estate investors often seek accounts with low fees for transactions, wire transfers, and account maintenance.

If not, can my friends wire money directly into my account, and I can use that money to pay for the property?

Also, some banks I've talked to require 30% of the balance to be held in their account.

.: Quote from @Wale Lawal: @Alex Rivera Jr.Investing in long-term rentals, like single-family homes (SFH) or multi-family homes (MFH), can be a smart way to build wealth and earn passive income.

In these cities, your financial resources will go a long way enabling you to assemble a diverse multifamily portfolio and initiate a steady stream of income.

Anyone make their buyers sign something before they release any info to ensure you can hold them accountable? 

Thanks for the responses everyone, the confusing part to me was if I use the deductions against active income year 1 since STR's are an active business, but then switch to LTR's year 2 which correct me if I'm wrong can't count against active income- if this in some way has a disadvantage with recapture, etc. since the STR business would no longer exist

If you have verifiable income and the project cost all in less than say 100k, it would makes sense to get a HELOC to fund the deal.

my accountant doesn't seem to think its possible

@Mel Gardner Hi Mel, Transitioning your home into a rental property can be a smart move for building passive income!