Learning to analyze deals quickly and realistically is key — tools like Rentometer, comps, and basic rehab estimating help a lot.

If the numbers still work and you have reserves lined up, you have basically answered the question, “Is this safe enough for my first deal?”

I have 2 properties that are room rentals and they are working, location is the key.The basic problem is that if you end up living in one of these places, something has gone wrong in your life.  

I’d basically break even.

When someone's 2-5 years behind on property taxes, they're usually in financial distress and willing to sell below market to get out from under it.Here's the basic process:1.

I have never posted before but am really hoping for input from STR owners and CPAs on whether I may qualify for material participation under the STR tax loophole as I am quite sure I do but my CPA says otherwise.Background:Bought STR in 2022 in a popular ski area Put into service late 2023, been a solid performer since; we did the basic cosmetic work ourselves and used trades for major upgradesAverage guest stay under 7 daysLive in tristate area, home is in VTSelf-manage (no property manager), rotate cleaners seasonally and have separate people doing snow removal, hot tub, lawn mowingMy CPA says I can't claim material participation because I don't live in the same state as the property.

It is basically serial production on an assembley line. 

Beyond basic numbers, how do you stress-test deals to make sure funding won’t become a problem?

Quote from @Wesley Whitehead: So had a phone conversation this morning with @Miron Briley In our conversation Miron did the following:1) explained how he heard about Pace's membership2) what he has learned through the mentorships and some drastic steps he took to achieve success.3) basic financials of some of the deals he did (purchases prices, interest rates negotiated for seller finance, some bird dog fees for bring the deals to other investors, units he has bought a buy and hold investor)4) a very interesting story about his experience about his initial meeting PaceWhat he did not discuss on mention1) a plug for me to be  sign up for the mentorship2) a pitch for gator lendingHe said to call him if I was curious to talk in greater detail, even mentioning going over deals I find to see if it would be a good SubTo deal. 

As you build your rental portfolio, it’s worth putting some basic asset protection steps in place from the beginning.