Make it your business practice to post the notice to pay or quit precisely on the day after the grace period ends, every time.

The premise of those opportunities are based on you living there for an extended amount of time.

During this 24-month period, the property must be rented to another person at a fair market rental value.After the 24 month period your sibling could convert it into a primary residence.

Very short seasoning period.

I want to create a fund that will allow me to purchase distressed homes, fix them up, and sell with owner financing (possibly including a 5 year balloon so as to be able to recapitalize periodically and give investors a shorter horizon).

Maintenance and UpkeepRegular Inspections: Schedule periodic property inspections to address maintenance issues.Emergency Repairs: Have a plan in place for unexpected maintenance needs.Furnishing the Property: Budget for necessary furnishings and appliances.7.

Were they all completed within the same 12-month period, or did it take longer?

Quote from @Neeta Agrawal: For context, we gave the tenant a 60-day notice for non upkeep and no repair communication in 2023 and then extended it for 30 days upon his realtor's request, setting the move-out for May 31, 2023.

A truly "motivated" seller tends to not really care the amount of earnest money and you could also structure your EM due at end of your inspection period.

Most of our newer investors approach 2-3 lenders to discuss loan options.Some lenders recommend making your financing inquiries within a 45-day time period to avoid larger drops in your credit scores.All the best!