Thus, while I always recommend working with qualified attorneys and tax professionals, it is especially important to do so in states like TN where you could easily dramatically increase your tax liability if things are not set up appropriately.In Florida, land trusts present a unique opportunity.

Qualify as a Real Estate Professional (REP) under the tax code. • This requires significant hours and material participation in real estate activities.• For someone working a full-time W-2 job, this is very difficult to achieve legitimately. 2.

I’m here to connect, share experiences, and learn from other real estate professionals in the community.

My current buy box is single detached homes with 3 bedrooms, 2+ bathrooms, 2 car garage, and built since year 2000, and managed by professional management. 

An LLC helps protect your personal assets, simplifies tax tracking, and creates a professional foundation for your growing real estate business.

The avg length of stay was 4 days and we spent ~200 hrs preparing the house to rent and managing numerous platforms and guests throughout the year.Consult your own tax experts, I am not a tax professional.  

For out-of-state investing, having a connected local team is key, and building that often comes from referrals, networking with other investors in the area, and leveraging professional connections like real estate agents, property managers, and lenders who know each other.

Quote from @Nicole Boerema: Hey everyone, My name is Nicole, I am a healthcare professional who recently moved to the Portland OR area.

Instead of reacting emotionally, I stayed professional.

My initial interest was in rehabilitating distressed properties, but I've found that land flipping and home wholesaling offers a more accessible entry point with fewer financial barriers and less emotional complexity.I'm pleased to join this group and look forward to networking with fellow professionals, expanding my knowledge, and contributing where I can be of assistance to others.Best regards,Samir Kaouche