Hey Guys, I will be breaking down my deal in Sioux Falls, SD that I am currently under contract for and would love some advice/opinions while I am in my due diligence period. 

@Greg Dickerson breaks it down best and @Lucas Miller explains how to use what you have now to reduce those tax burdens.

More importantly to break out of the worker drone mentality.

Can someone breakdown refinance best practices in the BRRRR method for me? It's one of those things I hear on the podcast or read/conduct research on and like I hear it and I get it..... but it's just not clicking for...

I believe the bank was trying to not break the code of  ant forclose if in bankrupcy but wanted to sell the house.

I am going to change the locks but I know they will knock the door down or break windows out of spite but I suppose that is an entirely another issue to be dealt with by the sheriff if it happens. 

I realize you're doing a pretty big renovation, but over time stuff breaks.

Looking for advice on letting them break the lease.

So let's break it down.If you're new and just starting out, here's some things you DO NOT need to worry about:You don't need an LLC right now, you don't necessarily need a website, you don't need a "team", you don't need to spend weeks/hours meeting with contractors, you don't need to meet with a CPA, you don't need to meet with lenders, depending on what you're wanting to do (wholesale, flip, buy/hold), you don't even necessarily have to go to networking events. 

On the other hand I'm not really interested in houses where i'm barely breaking even hoping for appreciation.