They can deposit cash or checks at any ATM associated with our bank.

You should use a state-specific lease that is clear regarding the start and end dates, the monthly rent, the fees that will be charged (ex. pets) and those that may be charged (ex late fee), the amount of the security deposit, and a clear list of rules associated with the property (no smoking inside is a big one as are rules related to parking).

The real question has to do with  if you are prepared to do what's required to learn the foundations of real estate investing, strategies, tactics, financing, title, escrow, marketing, deal structuring, develop acquisition systems, investors, associate networks and management of properties, rent collection, cash flow, taxes, etc.This is all took me a lot longer than one year, but you might be very dedicated. 

:) Do you charge your guests a fee to heat the pool (I have been seeing this more and more lately) or maybe build in the extra costs associated with heating it into your nightly rental costs?

Plus, association fees can be very expensive.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

When you have a few good cash flowing properties under your belt then you can push it a bit more but be patient with your first few and look for the deals that work best for you.Rochester is a good area to be starting since there are a lot of properties that are relatively inexpensive that have room for improvement so there will be plenty of opportunities for you, but I'd highly recommend you go to your local REIA (Real Estate Investors Association) and speak with them before jumping into anything.

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

Congressional Insurance Associates out of Germantown.

CBRE’s latest survey reveals a potential turning point in the office market.