If you have multiple LLCs, best practice would be having a Plus subscription.  

I am living at home still, so I don't have any expenses, but what should be the next step I should take?

Hi Dan,Exciting goals for 2025—congrats on taking the first step!

I know a lot about the industry through my education, but have very little/no practical experience when it comes to managing investment properties. 

Joining BiggerPockets is a fantastic first step – it’s where so many great real estate journeys start.

Depreciation is another powerful tool, allowing you to deduct a portion of your property’s value annually.Action Step: Keep detailed records of all expenses and consult a tax professional to ensure you’re claiming every deduction you’re entitled to.3.

You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.

Sometimes, stepping out of our comfort zone is necessary to discover new opportunities.

I have a city rowhouse with a 20' sidewalk and 5' wide steps with 9 treads and two 7'x7' landings.

HML lenders want to see a clear path to profit, so ensure your ARV and rehab estimates are solid.For next steps, definitely prioritize a detailed inspection to confirm HVAC and interior needs.