I am irrationally terrified of not performing on a deal, so I have always checked in with a few potential loan sources to make sure I could qualify for the loan before making any offers.

Also check with your 401k plan to see if they offer a Roth option.

I called the references he provided for his employer and previous landlord and it all checked out.

Get an attorney or financial advisor to cross-check it for you if needed.

Check out the demand for furnished rentals on platforms like Furnished Finder in Baltimore and see if it's worth it.

While effective in some markets, be sure to check local regulations regarding their use.Real Estate Auctions: Attending auctions can be a way to find properties at a lower cost, though it requires upfront capital and a good understanding of the process and market values.Remember, the key to successful wholesaling is not just finding deals but building relationships with both sellers and buyers (investors).

Do we form an LLC before closing and open a checking account in the LLC for all cabin related cash flow?

Robbie, Local to you CPA/PFS in Bryn Mawr we should talk shop and of course check BP Tax Finder and posts lots of great practitioners on BP.  

Commissioner, 74 T.C. 1134 (1980) (“The taxpayer’s intent at the time of the exchange is controlling and must be determined.”)Courts consider the following factors in assessing if the property was held for sale: (1) the nature and purpose of the acquisition of the property and the duration of the ownership; (2) the extent and nature of the taxpayer’s efforts to sell the property; (3) the number, extent, continuity and substantiality of the sales; (4) the extent of subdividing, developing, and advertising to increase sales; (5) the use of a business office for the sale of the property; (6) the character and degree of supervision or control exercised by the taxpayer over any representative selling the property; and (7) the time and effort the taxpayer habitually devoted to the sales.

Can someone run the numbers to ensure I am correct.  This is my first BRRRR and I do not want to miss anything.Purchase price $25K  CashRehab   $80kARV $130K80% refi $104K which leave $1k in the deal (I am ok with tha...