As a first-time property owner, you should focus on strategies like BRRRR and house hacking.

Just an example is property taxes. 

Assembly Bill 1771, also known as the California Housing Speculation Act, aims to change real estate tax policy to discourage investors from quickly reselling properties like single-family homes.Under the proposed bill, an additional 25% tax would be imposed on the gain from the sale of a qualified asset (including homes) within three years of the previous sale.The tax reduction is dependent on the number of years passed since the initial purchase of the qualified asset, ranging from a 20% reduction for sales occurring between 3.01 to 4 years to a 100% reduction for sales occurring more than seven years after the initial purchase.The revenues generated by this tax increase would be deposited into the Speculation Recapture Community Reinvestment Fund, which aims to support affordable housing, local governments, schools, and infrastructure projects.The bill is introduced by Assembly Member Ward, and the proposed tax changes would take effect from January 1, 2023.Assembly Member Ward argues that short-term investors in the market, including fix and flip investors, contribute to rising housing prices, limiting opportunities for Californians to purchase homes.While the bill may discourage short-term speculative transactions, it is worth noting that California's tax laws still provide certain advantages for investors, including unlimited tax write-offs and depreciation benefits.The bill is subject to legislative approval, and Assembly Member Ward will speak publicly about the bill at the San Diego County Administration Center on a specified date.Please note that this is a simplified summary of the bill and its potential impact on fix and flip investors.

Sometimes sellers who have had their property on-market for a while and don't need to be immediately completely bought out can be open to it.

Hello, I recently purchased a property and right across the street is what seems to be a vacant property in a developing neighborhood.

Currently my STR is doing great during the busy summer season in SC and covers my offseason which is fantastic, but I'd like to maximize my income with this property.

To illustrate:You inherit a property today that your relative/friend bought 10 years ago for 100k.

After we build the structure, is there an general estimate of how much the property/house will appraise for when said and done?

He should be paying into workman's comp and be the experts in evaluating the level of risk.Do you have an umbrella policy in addition to the property’s policy?   

Who is going to look at the properties?