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they list on their applications matches what is deducted from their bank account every month, and also ensure it's withdrawn from their account on the first of every month.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

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.

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. 

Any idea where a current MN Lease template would be?  

Currently looking at two properties one is Condo priced around 800K( which is not Ocean Facing) and one is townhome priced at 1.25M.

He and I have discussed on several occasions that fact that current CSLB wording  that limits handymen $500 per project is the maximum for both materials AND labor per project and that that would be the basis for fairness sake especially since I give him the project but still end up helping alot anyways.   

Hey @John Underwood Can the properties you purchase be redeemed by current/previous owners?