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Beginner mistakes and what steps to take to fix them
So I am new here and to real estate investing. I have made a few mistakes that I could use some help/ advice to solve.
1.) I have two rentals that I currently rent to a friend and the other one to my brother. With no lease or anything legit in place. I have been treating the rentals as a hobby.
2.) I did not include vacancy, repairs, management, and other cost, When determining what I was going to rent them out for.
How would you guys go about fixing these problems?