I will obtain a power of attorney authorizing me to make any necessary changes to the insurance. 

Don’t underestimate the power of experience!

@Ethan Whaleyi still can't tell if we're saying the same thing here, but principal paydown can definitely be more powerful than appreciation (although ideally you get both.)for example, i have a low rate on my primary residence, and so i'm already - just a couple years in to the loan - paying off large amounts of principal every month. 

House hacking and long-term rentals are a powerful combo, especially in a place like the Jersey Shore where you’ve got both lifestyle appeal and strong rental demand.Your passion and clarity of focus will serve you well: keep showing up, stay curious, and you’ll find plenty of like-minded investors here.

Selling the property just to comply with a city that, ironically, provides no sewer, no asphalt, no public lighting, overgrown weeds, and deteriorated access roads in that same area would effectively mean shutting down their business and losing their livelihood.That’s a power inequity where the government can obliterate a small business over paperwork.

It looks like your tenants are in a legitimate position of power and you can be fined daily.

As we think about purchasing our first investment property, we want to harness the power of owner-occupied strategies (and the VA loan as I am active duty Air Force).

They don’t usually foreclose like mezz— they take over control rights if things go sideways.Ideal for:Ground-up or heavy value-add where cash flow is lumpyDeals where senior lenders cap leverageSponsors who need flexibility on timing of returnsThe real deciding factor: cash-flow timing vs. controlIf you can make regular payments but don’t want to dilute ownership → MezzanineIf you can’t guarantee near-term cash flow but need capital to close the gap → Preferred EquityIf your senior lender forbids mezzanine (which happens often) → Preferred Equity is the workaroundOne more nuance most posts miss:Preferred equity comes in two flavors:Soft Pref – economic preference, no takeover rightsHard Pref – essentially mezzanine equity with control triggersUnderstanding which version you have matters just as much as the return.Both tools are powerful, if you pick the wrong one for the wrong project, it can wreck your risk profile.

If you’ve been in real estate for a while, you’ve probably heard people talk about Real Estate Professional Status (REPS)— but most investors still don’t fully understand what it means or how powerful it can be.Here’s the simple version:If you qualify for REPS, the IRS allows you to treat your rental income and losses as active instead of passive.That means depreciation, cost segregation, and other real estate losses can actually offset your other income — even W-2 income.For full-time investors or spouses who manage their properties, that can mean tens of thousands of dollars in tax savings every single year.To qualify, you need to:- Must materially participate in their rental activities.- Spend over 750 hours a year in real estate activities.- And more than half of your total working time must be in real estate.It’s not for everyone — and you have to document it properly — but for serious investors, it’s one of the most valuable tax tools out there.Most people think wealth in real estate comes from appreciation and cash flow…But the biggest gains often come from how you use the tax code.Curious — have you or your spouse ever tried to qualify for Real Estate Professional Status?

One thing I wish I knew early on is how powerful relationships are in this business.