When it comes to repairs, I recommend talking to contractors who can walk through the property for you and give you a solid estimate.

Peter Lohmann’s newsletter is a solid source for staying on top of national trends; I’d recommend subscribing if you haven’t already.In Texas, I’ve noticed increased activity, especially in the Dallas-Fort Worth area.

Here’s my recommendation to get it under control: For a quick fix, start by sealing up any gaps using acoustic caulk around outlets, baseboards, or other small openings.

@Isaac Terry Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Not much, but something to keep in mind.They are all good options, I would also recommend a place where you are physically the closest to or can get to easily.

Fannie mae allows you to transfer your loan into an LLC, but it is recommended that you speak to your loan servicer and ask that if they themselves will allow you to do so.

Moreover, I would recommend prioritizing a W2 position over 1099 self-employment/sales for two reasons.

I would not recommend that.

I plan to use a HELOC but would be interested in the thoughts of others in BPs on this approach or recommendations if there are other ways to financing that I should consider.

So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years.