I’ve built a portfolio up to 250 units, including 100 single-family homes using the BRRRR strategy along with lease options over the past six years.

In today’s high rate market, 1% ratios do not cash flow at high LTV in most markets.   50% expense ratio $2550. 80% financed at 7% (OP indicated and does not include the plumbing) P&i $3,332/minth. $5100 - $2550 - $3332 = -$782/month after achieving market rent.  

Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

Just include them with the rental.I don't charge extra to use my Kayaks.

Hello everyone my names Diego madera I’m 17 and I’ve been learning about real estate for about 2.5 year’s now I started by learning wholesaling but I haven’t taken any action this last year I learned about house hacking and fha loans I’m really gonna focus on building my credit and focus on getting my license since I turn 18 this year and I really wanna aim towards getting a triplex where I can net positive cash flow and just keep on progressing from there this is my first post that I want to hold my self accountable with 

Examples includes a Newport six plex for $645k, Two small detached homes on a single lot in Lakeside for $237,500 and a north coast duplex with very large 3/1.5 units for $560k+/-. 

Most of people who say don’t do it - have never self managed in these areas so be careful who’s advise you follow .

I am able to write a lot of expenses off as I'm self employed.I realize I need to seek help from my CPA but he is out of town.

That's a great point about including a lease, even with Airbnb.

https://www.wlky.com/article/louisville-zoo-expansion-trains...Tourism is the second largest commodity in Kentucky. Bourbon Industry is set to outpace Napa Valley! We are blowing up!