@Minji KimRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which is VERY important for stable rental income and low property maintenance/damage.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Hey Seth - With your construction background, you're in a great position as leveraging that rehab experience will be a huge advantage when securing financing.

All expenses would go on each account and it made year end accounting very easy.Ally alerted us that they are closing our accounts due to our failure to "properly secure" our accounts.

@Priyanka Shah Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

The wholesaler assigning a contract they didn’t secure yet. 

It comes out that they made adjustments on October 4th, to a few proeprty ledgers  18 months prior (april 2023).Also they  are trying to claim their 10% fee from the security deposits they are holding for me.They’re now claiming I owe them money that wasn’t owed, it’s only showing as owed beciase of the ledger adjustment referred to earlier.This reeks of fraud to me.

@Samuel MartinTo secure a new property deal with limited capital and potential DTI challenges, consider Home Equity Line of Credit(HELOC) or Cash-Out Refinance, partner with someone with capital or credit, explore creative financing options, use a BRRRR Strategy, reduce DTI through income boosts or portfolio loans.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Had them sign leases and got security deposits.

@Sol BergrenBP had a legend on their podcast episode 399: Jeff Thorman who discussed this common problem.My experience there's a handful of root causes:- Subfloor is not level - in which case this is bound to happen no matter how well you installed- Improper installation - I've found the planks seem tight when they typically have a small bit they could get tighter which is why I always use a scrap piece of the interlocking flooring, then while installing each piece of flooring, I pull into place manually as best I could, then use the scrap flooring to lock into the open side of the piece I'm installing and tap with a hammer as needed until the pieces is truly secure in place.