Finally- you can eliminate 95% of the troubles and risk by simply having professional and legal screening and management processes, so don't sleep on that piece. 

If you don’t pull out your equity by refinancing then how do you contribute to keep adding properties to your portfolio?

My first rental in Birmingham I bought back in 2012 is now around $148,000 and rents for $1,000.It’s all about adding value.

Hopefully your lease has provisions that explain the process for adding a house mate/ how long guests can stay/ repurcussions for breaking the lease and I would reference those in your note.

It’s a popular way for new investors to dip their toes into real estate because it allows you to generate rental income while reducing or even eliminating your monthly mortgage payment.While house hacking can be done with single-family homes (by renting out rooms), multifamily properties, such as duplexes, triplexes, and fourplexes, take the concept to the next level.

Hiring a property manager under Option B lightens the burden but eliminates cash flow if you leverage the property with a DSCR loan.

It could be worth engaging with the MSO or the owner to explore adding a renewal option or gauging the MSO’s future plans.

Donate the Property: Donating the property to a qualified charitable organization can provide you with a charitable deduction equal to the property’s fair market value and eliminate capital gains taxes.Implementing these strategies requires careful planning and consideration of your specific financial situation.

Same for electrical.....replacing an old GFCI is fine, bit if you're adding more outlets or especially running a new circuit, you'll technically need to get a permit and have it inspected.Now does everyone do this?

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