You will start to dread days where you have nobody on the job.You should also have a designer (can be you, your wife etc), but money is made with designs not by replacing pipes.For your first flip: break even is a success.

From a tax angle, flipping is treated as active income, so once you start doing consistent deals you will want the right setup, often an S Corp, to avoid paying more tax than you need to.The best first steps are to learn how to analyze deals, build your team (a lender with creative financing options, a real estate agent in the area you're interested in, and maybe a CPA), and understand your numbers so your first flip is profitable after taxes.I just sent you a DM with a resource that might be helpful for you in this situation, so feel free to check it out.

I'll add what I can:1) You can probably actually charge tenant for trash - if you can break it out from the property tax bill.3) Lease language needs to be very clear as tenants will try every angle to get out of paying!

Hey everyone — I’ve been using a custom AI analyst called BRRRR Brain to underwrite deals, and it’s been surprisingly solid. It’s built specifically for risk-averse BRRRR, Rent-vs-Sell, and Refinance analyses — not fl...

Break it once, and people remember.

So let's break this down and point out the flaws in your strategy: You're in an affluent market where your ideal seller is not located while using cold email and manual marketing strategies, which yield a low number of sellers being touched daily.

People get too carried away with living completely for free, but literally cutting your living expenses down at all is still progress. 

Things break faster.• Stricter compliance.Depending on your city, rent-by-the-room can cross into boarding house / lodging house territory.

@Nikel Berry feel free to reach out.

Now to be fair not everyone is going to get the same level of service I get everything for free for all my subdivision work we do..