@Morris Layton thanks for the insight I'm near Chicago at the moment I wanted to do a couple projects maybe single family homes so that I could learn the process and continue to network with people then eventually venture off into other markets, any advice?

A dollar today is worth less than 50 cents in 30 years.For example, the depreciation we can deduct every year can be viewed as an interest free loan from the government between the time we save the taxes and the time we eventually have to repay them. 4. 1031 ExchangeExchange a piece of real property for another, similar piece of property, putting off having to pay any taxes we would otherwise incur for the selling of the first property.

3 bed/2 bath home with a walkout basement that could easily be converted into a separate 1 bed/1bath unit with kitchenette.

reireply was built for personal use by a nationwide wholesaler and then eventually opened it up for subscription users so their purpose is not so much to cater to new folks, but their own use. 

I think you should pay special attention to pricing tools, cleaning procedures and guest experience when you optimize your first Airbnb, these will be crucial as you grow into four or five units and eventually add mid-term rentals and small multifamily.

If the ADU was used partly for business or rental, a portion may not qualify, but most of the main home usually does.If you decide to sell the property after converting it fully to a rental, you also have the option to defer taxes with a 1031 exchange.

We’re located in Westchester County, NY, and our goal is to eventually get approved for more so we can purchase a house to house-hack (ideally a small multi-family).

You’re definitely not alone in taking that “use it + rent it” approach.Are you hoping to eventually boost the cash flow, or mainly planning to keep it as a hybrid STR/personal home?

I got into the multifamily syndication space, networked a ton, was lucky to have met a couple of guys who had many years experience + good track record and overtime of staying connected with them eventually I brought up partnering where I'd raise capital for deals we'd potentially do.

Tenant eventually hired a structural engineer to document the foundation problem so they can force the owner to fix the issue.