Since you’ve managed a major renovation before, you’re ahead of most first-timers, but without the right team on the ground, this could become a money pit.

It's more stable, more regulated, and frankly, a lot less headache for a home you plan to live in.Minor Hurdles for Major Payoff: Yeah, the $44K upfront for initial fixes and that flooring re-do are annoying.

Since it has to be titled to someone, I personally would form an LLC and do an operating agreement that outlines roles, responsibilities, profit sharing, and outlining who and how sale or refinance can be triggered, etc. 

So, if you fail to apply the correct assumptions to a property, your expectations won’t be met and it may even be a financial disaster.We use the following to rank Property Classes, in order of importance:Property Tenant Pool: closely linked to location, but not always.Property Location: closely linked to tenant pool, but not always.Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.

All 5 stars on both major platforms.

I will also be doing the majority of the managing.Him: He is much more organized than I am.

Consult a real estate and estate planning attorney to properly structure the trust and define roles, succession, and ownership shares.

"Star Chasers" and "Staycations".First, spontaneous local travel is on the rise:Over 60 percent of "nearby" searches are from families and groups planning trips within 300 miles of homeForty-three percent of Americans are choosing to drive rather than fly for their summer travelThirty-nine percent say they are traveling domestically instead of internationally to save moneyNearly one in three parents with kids under 18 are actively choosing staycations over longer tripsLast-minute bookings are up, with flexibility and availability playing a major role in guest decision-makingTo take advantage of this trend, hosts should consider promoting easy weekend getaways or “within driving distance” escapes, offering flexible cancellation policies, and setting one- or two-night minimums to appeal to last-minute planners.

Your credit history's age plays a big role in your score, and it’s smart to start early.Moreover, I see a lot of younger folks jumping into wholesaling because of what they see on Instagram—big checks and quick money (not saying that’s you).

I'm currently exploring opportunities in real estate, particularly in accounting roles.