No extra fees added for repairs, I'm allowed to contract my own people via the PM to do services(HVAC, lawn, water heater, etc.)

My opinion-- buy in the winter, underwrite with an extra long vacancy, get some seller concessions to defeat the cash flow if it's really that tight.

Now your fully renovated home is getting top dollar rents, you could probably refinance too since rates are poised to go lower (lowering your monthly obligation), you could open a HELOC before you move with the extra equity and use that to fund your next deal and now you have 2 homes! 

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

You’ll need to find a GC on board with the extra paperwork and a seller willing to accept a longer closing time.   

House hacking lets you live in one unit and rent out the others, which can help cover your mortgage and generate some extra income.

@John Cooper when you or someone you care about is living in the home it is important to be extra vigilant in choosing tenants.

STRs specifically have supercharged our passive income goals and cut down our initial goal of a 10 yr run to get where we want to be in half. 

Also, if anything were to go wrong I wouldnt have the capital available to pay extra on a property every month. 

Want extra help?