Quote from @Stuart Udis: I've sold membership interest and admitted members into LLC's (normally for vertical development phases of projects after completing entitlements).

I am based in Indianapolis, Indiana and focus on project management for rehab projects, so I work with a lot of investors who pursue BRRRR strategies.Indiana is a landlord-friendly state with affordable housing stock and solid rental demand.

I know how to price out construction projects and build efficiently, but I'm still learning how to spot good land deals and identify what type of building makes the most sense in each area. 

With these added cost figures the numbers are getting tighter. 

The one caveat is, with margins so slim in this market and NH is blowing up, you need to underwrite your refi numbers very conservatively and for 80% debt figures on the new appraisal value, esp if you're not living in the building.

For example, when we started buying in the Costa del Sol by buying a first holiday villa in a small town, we figured out that:- There is no lodging crisis like in the big cities like Barcelona;- Even if there was a lodging crisis, the people who are victim of it would couldn't to buy or rent that kind of property anyway;- Tourism and second home owners are very important to the local economy.There is a logic behind which areas are more favourable.

On the other hand, the Airbnb option at your primary home may give you more flexibility with less financial stretch.Key Tax Points to Consider:Depreciation:Duplex only → About $15k/year straight-line depreciation.ADU conversion → Extra $50–60k basis added, with potential for cost segregation and bonus depreciation (front-load tax savings).Airbnb conversion → Similar depreciation benefits, possibly even more advantageous if treated as a short-term rental.Interest Deductions:HELOC interest is deductible as long as the funds are traced to the rental/rehab.If used for personal expenses or non-rental projects, it’s not deductible.Classification:Duplex/ADU → Generally Schedule E (passive activity limits apply unless you qualify as a Real Estate Professional).Airbnb → Could fall under Schedule E if you DO NOT provide significant services (no passive loss restrictions, but may trigger self-employment tax).Risk vs.

Curious — when you team up with investors, what do you usually find works best to keep projects moving smoothly for both sides?

Quote from @Scott Scoville: Just finished one of our bigger projects.

@Lisa M.Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location/neighborhoods to invest in.Why is Property Class so important for investors to understand and apply in their investing strategies?