What the Platform is now openly and actively advancing is step by step closer to more and more government control of our every day lives. 

Work with your tax professional to see what you basis is so you understand the tax liability if you sell. 

He had collected a $5000 deposit from them, and also was collecting more from them on a monthly basis that what we had originally been renting it for and pocketing the difference.

Do you increase rents and ask for more deposit money on a yearly basis as well?  

Unfortunately as a part-time agent, you also likely won’t get that support you need from a traditional brokerage if you’re not in the office on a regular basis.

As a commercial operation I had to keep a log of maintenance and was constantly worried about state inspections because a lot of the time we really weren’t in operation but for the state inspectors you were supposed to be available from 8am-5pm everyday of the season.

Each state is very different and the laws are being revised on a pretty regular basis.

I wanted 15k down and 30yr @ 10%, but he insisted on 5k down and 15yr @ 0%. 5k is nearly half my cost basis which includes the adjacent property so I pushed the term to 20yr.

I wish I had started sooner, but my advice is make sure you are happy (or strive to be) on a daily basis by following and nurturing your passion (specially if it is not related to real state!)

But personally in my state of WA, I can lend in 2nd position on a rental at very low CLTV and put a 1st on a new acquisition at a low LTV and I would take that loan all day, every day over a 1st position on an acquisition at 85% LTC.