I was worried for a minute when the county mailed a survey to me asking how I felt about STR’s, but now that the review of their system is over, I feel confident that they won’t make any more major changes here for a while.

One great deal per year could absolutely change my family’s lives! 

I’m leaving this here in case someone wants to adapt my version of the spreadsheet (supports multiple properties, one per row), as well as an automated, programmatic way of populating the spreadsheet given a paragonrels.com link from an agent/broker.

Factor in ALL expenses like property taxes, insurance, repairs, maintenance, vacancy rates, and potential property management fees.2.

If they don’t want to spend both hours per month they can pay a bookkeeper.

So they can replace the people that move out with people you approve of after proper screening..... keep the same number of people and now the total rent is split between them, so the per person goes up..... or they all move out and you start all over to rent it at current market rate. 

As per your OP, you two are the owner/members of the LLC. 

@Taylor DavilaWe do 20 Flips/BRRRRs per year in Jacksonville FL and we use a hybrid approach.

Hello, I am looking at 2 properties, one 2 unit property that I have put in an offer of about 120k that can generate positive cashflow of $600 per month and another which is a 6 unit property where I have put in an offer of 350k that can generate $2000 cashflow.I have a bank ready to lend a mortgage at 7% for the 2 unit property.

.- Explore strategies like 1031 exchanges to defer capital gains taxes.Deductions and Expenses- Know eligible deductions: mortgage interest, property taxes, insurance, maintenance, and management fees.- Maintain detailed records of all real estate-related expenses.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.