I have found using our property management software to communicate as a way for it to be saved 3rd party and reliable for legal matters.Forbes article 1-2024

First I want to thank you for reading, I am new to the investment market and the idea is exciting and terrifying at the same time.A few facts:Purchase Price: 325,000Rental Income Estimate: $5250Property details: This is a 3 door property:1. 1/1(main building)2. 3/2(main building)3. 2/1(separate building)Repair estimates to get all 3 properties up and running: $145,000 - $200,000I do not have a ARV since its very unique there is not anything we can compare to but I am looking to get a third party appraisal.Plan is to do a mortgage for the property with cash down payment.

These studies can be pretty complex, and a third-party expert will ensure it’s done correctly and that you maximize your depreciation.

Banks won’t loan money to purchase land (usually); so any buyers will either have to be flush with cash up front (which severely limits your buyers pool) OR the seller has to make it easy for an interested party to purchase the land.Seller-financing works great with land, as do land contracts.

It might be helpful to find an unbiased party you trust to help you.

- Do you have an in-house maintenance team or do you use third-party vendors?

I felt discouraged, but the seller stuck with me because of the rapport we’d built.After a final price reduction and a third inspection, things changed.

The best part is there are no competitors as of this moment.

PS: thanks to all this thirds has been very interesting! 

Last week I was chatting at a party with a State Farm agent (not my local agent) who clued me in that State Farm will write commercial policies for STRs, including SFH owned by an individual or trust.