Each tenant also signs a lease agreement for added security. 

I’m looking for some guidance on my next steps toward achieving financial freedom through real estate.My long-term goal is to acquire enough rental properties to secure my financial future.

I don't delegate bookkeeping for security reasons.I finally realized that at this time in my life, it is much better for me to pay a bookkeeper. 

A good tenant usually wants security and I want "good" tenants. 2.

Assuming it's written in your management agreement somewhere that states the owners are current on all financial responsibilities related to the property, does anyone require them to actually provide a current mortgage statement, HOA payment record, taxes paid, etc..... at least at the time of the original management agreement signing.Recently had a new owner sign the agreement, only to find out after we had secured a new tenant for them, that they were in financial distress to say the least (inquiring about bankruptcy) .

This could be a useful strategy if you need more time to negotiate a good price for your current property.Exploring Financing Options: Given the higher interest rates in 2024, securing financing for your replacement property can be a challenge.

It will depend on the amount of security you are offering, the attractiveness of the interest rate, and your ability to raise cash, among other things.

@Sam TrightBesides the other comments above you also start really walking or crossing the fine line of selling securities when you start bundling up parts of a note and selling it to different people.

And where do you think you can get rents.We've been able to secure 80% loan to cost on these types of deals with a credit union recently. 6% is a good rate, but I would see if you can shop around the LTVGood luckGino

State/local are determined by your state of residence, not the state the property securing a loan you hold, or property you own is located in.