First Investment Property Under Contract

[Ben Crego]

Hi folks, my wife and I just put our first single family investment property under contract. We live about two hours away from the property, but we have seen it and have a strong support network where the property is located. We are strongly leaning toward self manage, while paying family to be onsite when necessary.

Here’s what I have on my checklist so far. Am I missing anything?

1. Home inspection: Thursday
2. 
   Mortgage application: underway
3. Insurance: agent contacted for insurance and umbrella policy (home is going in personal name for more competitive interest rates).
4. 
   Cleaning pre-tenant: TBD
5. Repairs: none that I’m aware of yet
6. 
   Tenant screening, management, and rent collection: either Zillow or cozy.co and will do credit, eviction search, references (personal + past landlords), income verification, plus zoom interview. A family member will show the house. Will require first, last, and one month for security deposit to move in.
7. Maintenance for miscellaneous tenant calls: TBD