Investment Info:

Single-family residence buy & hold investment.

Purchase price: $105,000

Cash invested: $10,000

I purchased this home because it has an in-law suite in the basement with a private...

If I go Full self-manage, I’d save ~$112K gross (~$90K net after tax), but it could mean 15–20 hrs/week in management, plus seasonal spikes — and that’s time I’d otherwise spend sourcing or managing BRRRR rehabs.Here’s the tension: One BRRRR deal in my market creates ~$75K in forced equity.

For simplicity, lets pretend that I have no income from any sources...Could the IRS then still tax the conversion because I am converting 400, 500, 600K?

my guess is its everyone seeking 100% financing with zero experience and have been told no by 50 other lenders. 

@Don Konipol how to find good wholesalers in my area ?

Hello my name is Chuck and I’m super eager to start my real estate investment journey, I’m working with a realtor and a lender and have viewed a couple homes one potential that me and my wife want to buy unfortunately this doesn’t meet the criteria for the one percent rule, in the beginning I reached out to a investor realtor in my area using bigger pockets which fell thru due to a family emergency on the realtors end I moved forward with a reputable realtor in my area but I’m really not sure if I should move forward the house fits our needs at the moment and it does involve a little sweat equity but no a lot to do it’s mostly done how do i navigate way I should do next should I put our families needs first and just sell after two years or rent out ultimately is what we are wanting to do, I will say I’m a little overstimulated with this process in how everything is going and how hard it is for my area to find that first rental investment that both fits our needs and our rental portfolio any advice would help and thanks 

If you ever have any questions feel free to reach out I enjoy helping BP members avoid lost time, learn loopholes and tips to save more money!

I pay my bird dogs per lead they bring me.

A few quick tips as you prep for Q1: • Run Numbers Conservatively: Factor in PITI, maintenance, mgmt (even if self-managing at first), and vacancy.

Feel free to connect if you want to swap tips and idea