I should note that I did a 1031 INTO 2 of the 3 houses, and did a cost segregation study and took accelerated depreciation on all 3 to offset 2022 taxes because I had a very profitable flip that year and I am a real estate professional per the IRS.   

Located in: Trenton, NJ  one thing to realize and talk to your accountant about is if you assume it - do you assume it based on his cost basis, which could be a lot lower than the property value and then when you do eventually sell it, you could be hit with a nice capital gains bill. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

With rents falling in many areas, and with the cost to buy going up in relation to higher interest rates, this strategy is becoming harder and harder to implement.

We reglazed a shower to costs on a BRRRR.

I expected it to cost 30% more than 2021, not 60% more.

If it's a residential property, normally the loan will be more expensive to close directly under a LLC vs. your personal name hence the cost of debt tends to be higher.

@Clif Charles, to avoid having to have two separate loans and two sets of closing costs, just use a conventional loan thats known as construction to permanent.

The one I use charges 8.5% a month, when there is a vacancy they get nothing, when they fill a unit, they get a set amount plus advertizing costs (not one month's rent which seems to be more common in the US), and when there is a problem they deal with it. 

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