.- 2022 and 2023 Federal Tax returns with all schedules included- business and personal (if filed separately)- January 2024-current Profit/Loss, Balance sheet, debt schedule (template attached here- or can use your own profit/ loss template)- 30 days most recent paystubs and ’22 ’23 W2s if you receive pay checks.- Most recent 2 months of bank statements outside of CBNA- Most recent retirement/ investment/ life insurance statement, if applicable.Is this an insane amount of paper? 

The building is partially occupied by the current owner who would be moving out with the remainder of the building leased to various mom/pop tenants so this would not be a turnkey deal.

In my market, buyers are looking for about 12% or more in gross rental income relative to purchase price, so if you have a $500K property that's only doing $40K/yr under the current management, don't post rental history (though most buyers will ask for it, so be prepared to explain why it's performing the way it is).Also, network with agents who specialize in STRs. 

Make sure the current rent amount they list on their applications matches what is deducted from their bank account every month, and also ensure it's withdrawn from their account on the first of every month.

I've been fascinated with real estate for nearly a year and made a promise to myself that I would own my first multi-family at the beginning of 2025 and utilize my current time to look for deals and educate myself.

You will need to work with a tax professional to analyze your current tax situation (income, deductions, activities, etc.) as well as projected income from the fix and flip business.The benefits have to outweigh the costs (payroll costs, additional tax returns, more stringent reporting and compliance requirements, etc.).One important note - an S Corp is not an entity; it is a tax election.

Considering you currently have 0% household expenses, I believe this should actually be less risky if you currently live for free. 

Hello BP members,I am a homeowner in MD, trying to crunch numbers to decide if I should move to TX or not.My current home A has 320k left on mortgage from 400k @2.5%, with remodelled kitchen and bath. 

I'm currently working on deals in several markets where this is feasible that are in the path of growth for Charlotte and the Triad areas.

Any idea where a current MN Lease template would be?