If you need financial help, ask under the "Finance, Tax, and Legal" forum.

@Kendric BufordRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Very brief summary of article: CTA has a issued a nationwide Stay on the January 1, 2025 deadline for beneficial ownership reporting to the (Federal) Financial Crimes Enforcement Network (FinCEN).

If we had gone with more optimistic assumptions then it would have been a very disappointing year financially at least.Every market is unique. 

@Josue RamosRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

@Christopher Mooney - I house-hack a 2 Unit Building in Bayridge Brooklyn which is a 45 minute subway ride to Manhattan Wall Street Financial District (a 7 mile drive).

This thought led me into studying about becoming financially free and building generational wealth.

I've already had to turn multiple people away after running their credit reports, so I can already see that it's not going to be financially feasible for me to be covering the fees myself.

If these are even an average sized breed they can eat through a lot of food in a day/week/month.So the first thing is to get yourself financially stable.

Registration and Financial Considerations for the Second Company:Is it possible to register the second LLC on the property (as part of the 50%-50% model) if it does not yet have an EIN (Employer Identification Number)?