Ultimately, it depends on what’s going on in your local market and how involved you want to be in managing it.A firend of mine who was managing a similar property in Scottsdale ran into some issues during a vacancy period.

It would just take longer without guidance.My experience is that someone has to actually apply what they are taught “consistently for a long period of time” in order to become successful, The mentor is there to help them along that path.

I wanted to know if you guys have software that can get that kind of information easily and efficiently.

However, if you’re unsure about future property values due to the unique nature of the property, this could pose more risk.What You May Not Be Considering:Financing Flexibility: Using a HELOC for repairs is a solid plan, but make sure the loan terms are favorable and the rates are manageable over time, especially with interest rates fluctuating.Vacancy and Maintenance Costs: Once all units are rented, factor in potential vacancy periods and ongoing maintenance costs, especially with multiple units.In conclusion, while the repairs are a big expense, the strong rental income potential suggests it could be a good deal if you manage the rehab costs well.

After that period, I definitely did not want to get into the cleaning business.

Does the use of the property as a personal residence by person A and the limited rental period affect the capital gains in any way?

I also did my first house hack it was a 4 unit though but around that same period with a cashout refi brrr in 2020.

Together, we leveraged our resources to swiftly complete the transaction, ensuring both efficiency and profitability.

OP the option period is just your due diligence period. in Texas its common to put up 100.00 non refundable for a 2 week option.. if you dont like it you back out and lose your 100.00

Investors will sometimes choose the second option / 40 year term because during the 10 year interest only period, the mortgage payments are lower compared to a 30 year fixed so more rent is going into the investor's pocket.