Hello folks!

I'm getting into real estate investing, and I'm trying to
understand whether renting is a viable strategy for where I'm targeting
(Newark, NJ). I'm very numbers oriented, so I h...

., time spent on guest communications, cleaning coordination, repairs, marketing, etc.).Proper documentation not only supports your position in the event of an audit, but it’s also essential for meeting the IRS thresholds for material participation under the STR exception.happy to help.

Chat with your accountant to confirm how your $30k fits into your basis and gain calculation, and double-check with your qualified intermediary (QI) to ensure the exchange docs align with your plan.

I will look into the insurance premiums to make sure I'm accounting for those properly. 

So- if your property is zoned commercial and is operating under the proper permits, this wouldn't apply, but if it's a residential property, this is why brokers "don't understand," the value- because the NOI is irrelvant and they know buyers and lenders won't bite.

Standard preferred risk carriers typically won’t insure short- or mid-term rental properties, but we do have a couple of solid markets that can cover you properly. 

Your seller properly disclosed.Personally, I would call your alderman and see about getting an ordinance through the city council allowing rebuild at same-scale/kind of residential use if there was a total loss.

Our plan is to purchase a suitable property and ensure it meets all required codes and licensing standards.I would greatly appreciate any advice, insights, or best practices from those who have experience in this field.

If you buy too much house and don't know how to manage everything properly, you may wind up with bad reviews and hurt yourself.

You’re absolutely right strategies like BRRRR and DSCR can really unlock growth when structured properly, and I love helping investors set themselves up for long-term scalability.Looking forward to sharing what I know, learning from everyone here, and building strong connections that create real value for the community!