Unless you're in a Class A Neighborhood like Palmer Woods, Indian Village, Sherwood, etc,. the additional rent probably won't support the cost to build:(More profitable to take the build funds and buy another property.DM us if you'd like to discuss more...

In addition, condos tend to not appreciate as fast in value compared to single-family or multi-family homes. 

Your primary strategy should be to have the Contractor and all Subcontractors add you to their insurance policy as Additional Insured. 

I rented out the additional bedrooms to friends and family, charging them well below market, and sold when it was time for my wife and I to start our own adventures.

In addition, all Rent payments hereunder not made within five (5) days of the due date shall bear interest at the rate of one and one-half percent (1-1/2%) per month"The monthly rent is $1550 so the late fee is easy - I've set the account to charge 5% if the rent isn't received within the 10 days stated ($77.50).

Thanks in advance to everyone who shares their thoughts.Hi Greg, turnkey rentals seem aligned with your current situation and leveraging your wife's additional mortgage capacity would be a smart move.

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- Are there any resources / you tube vidoes/ or additional BP Videos I should be looking at- If anyone is so kind, would anyone be able to give me a tutoring lesson for any hour, and if so, I am willing to throw a little money for their time.

I rented out the additional bedrooms to friends and family, charging them well below market, and sold when it was time for my wife and I to start our own adventures.

Look at the PM contract and verify the 8% is all inclusive and that there are not additional charges for placing a tenant, resigning a tenant, inspections, and dealing with vendors/contractors.