You will also likely be paying more than more experienced investors as you build your team and knowledge.

A personal liability policy "MAY" extend to one or two rentals but if you are planning on building a portfolio consider the commercial umbrella.Another thing to consider is that the courts frown on carry high personal liability but low business liability when trying to hide behind the vail.

The current tenant was already in place when I purchased the building, and their lease is set to expire in a few months.

If your current lender can’t accommodate you, explore STR-focused lenders like Host Financial or Lima One Capital, or consider bridge loans to buy time while you build your rental history.

I am a professional photographer and have been doing that for the past 18 years, so I'll also be building my business in NC from the ground up!

Just a update, i bought a new build SFH in Rancho Cordava for 560K and rented out for $2900.

In other news, it may be tempting to purchase a waterfront property at a deep discount along the Western Coast but beware, you might get flooded in the next hurricane unless you want to do a teardwon and build on stilts. 

Looking forward to building a better financial future.

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

If you’ve yet to build up substantial credit in the U.S. you can apply for foreign national specific loans that don’t take credit history into consideration when qualifying as in some circumstances you can get better rates and terms applying as a FN when your U.S. based credit history is in it’s infancy.