Contrary to multiple letter writing campaigns and already being historically the 4th highest state an overall tax burden according to the Tax Foundation, Vermont‘s legislature has apparently just increased the state M&R tax to 12% which appears to bump it up to the 4th most taxed state in the country for short term rentals, according to the National Conference of State Legislatures: 1.

The entire building will make this unusual humming sound from between the walls. 

BiggerPockets has a section just for this, Under the BUILD YOUR TEAM tab- then select- MEET UPhttps://www.biggerpockets.com/forums/521Best of luck to you!

As you start to build a relationship, I've had success paying contractors for quotes until you do a job with them.

What tax structure should we use?

@Thea Hernandez Welcome and so happy to see you building things up. 

The new investment earns $24,000 a year, but the mortgage + the equity loan cost will be $22,332—and that’s before you account for taxes, insurance, maintenance, capital expenditures, vacancies, etc.

where resentment tends to build in your relationships or are you on top of communications and fair in your dealings?

So, almost surely not a build-able 1/4 acre on its own when you consider its modest size, odd shape, setback requirements and the easements.

This can potentially enhance long-term wealth building.Tax Deferral-By reinvesting your proceeds into like-kind properties through a 1031 exchange, you can defer capital gains taxes, allowing you to reinvest more capital.Market Timing-Despite the competitive market, a 1031 exchange gives you a defined timeline to identify and acquire properties, potentially putting you ahead of other buyers who might not be as motivated by a tight deadline.Cons:Lower Initial Cash Flow-Acquiring additional properties may reduce your immediate cash flow, especially if properties in your target market are not as cash flow positive as your current property.Risk of Overpaying-In a competitive market, there's a risk of overpaying for properties just to meet the exchange deadline, which could impact your overall returns.Either one is a valid option, but overall it depends what your financial goals and restrictions are.