***BUT keep it ***B - Buy it F - Fix itLive - Primary Residence itLeave - Keep it, rent it out, and find a new primary residence What made you interested in investing in this type of deal?

Quote from @Ryan Daulton: Since learning that cash flow from real estate that was purchased from self-directed IRAs is taxed, and that I would not be able to claim depreciation on this property, what are the advantages to buying real estate with self-directed IRAs vs. other investment types like stocks and mutual funds?  

That way, there is some type of cushion to help against any high usage months, should they just happen to use more than your previous tenants did, or if you unfortunately get tenants who abuse the "utilities included" opportunity. 

A debt service loan is popular for that step.

If you are not looking to evict now, I'd wait with these types of tenants until closer to the 30 days, you are looking for more confrontations and problems if you tell them you won't renew. if anything,  you can say that if there will be another violation you will start eviction process best of luck 

Testing the entire BRRRR process to see if it's the right strategy for me long-term.building equity through rehab and build out will be best achieved with a lower priced cash purchase---typically wholesale. or word of mouth. depends on the region though. lots of ways to hunt for good BRRRR candidates, but hunting on the MLS typically wont get you low enough prices to make sense....My brother-in-law, who owns a landscaping company in Lee’s Summit, works with a lot of local builders and has been a huge help...This sounds like a great resource for finding subs that will do the work for you independently. most subs can do other types of work as well.If you’ve worked with trustworthy contractors or subcontractors in the Jackson County/MO area (especially those familiar with investment properties), I’d love your recommendations.

My understanding is that although it can work, these types of legal agreements have big downsides compared to sub to.

The goal is to move into another property by spring 2025 to do another live in flip and keep this property for a few years at least.What made you interested in investing in this type of deal?

What made you interested in investing in this type of deal?

What made you interested in investing in this type of deal?