Here are some stages and recommendations to help you through the process:Create an extensive business plan including all aspects of your idea.

The longer they stay high, the more investors who thought it was a good idea to buy 3% cap buildings on cheap debt a few years ago are going to get bled out.

Setting aside a percentage of the rent for capex and repairs sounds like a good idea, and for some it is a good idea. 

If you are interested in digging deeper into any of these ideas or just want to talk real estate investing - which I always love doing - don’t hesitate to reach out.

Ravi,A Personal Umbrella policy gives you an additional limit of Liability if the limit on your homeowners, auto, boat, or rental property (1-4 family) is exhausted in claim. 

Hey Laura,As far as benchmarks go, be sure not to limit yourself to what you see on AirDNA.

Great idea.

This site can give you an idea of every apartment complex in the area and then some sleuthing would be necessary to identify owner and outreach.

Are we talking $100k or $20kNote that the appraisal is based off the work you put into it and won't be based off market comps for a few years so you are really limited pulling out your capital till 5-6 years and the max LTV for a cash out refi is 75% if you are owner occupied and sign another 1 year occupancy agreement

Some have limits on the number of rentals in the HOA.