It was in rough condition, which limited competition and made it a strong candidate for the BRRRR method.Negotiation: After analyzing comps and repair costs, I negotiated a $420,000 purchase price, which was below the market value for similar properties in the area.

It also saves you some costs, which is helpful when you’re just starting.

WHAT IS A COST SEGREGATION STUDY?

Calculate how much more in interest, lost profits, etc it will cost you to have this “blip” on your credit report.  

There is a State of Emergency in effect and anti-price gouging laws apply.

I'm trying to make it so I'm on the deed/title and not the mortgage.I know the income side would be effected with the dti I was just wanting the debt side not to be.

The parties will jointly appoint an acceptable mediator and will share equally in the cost of such mediation.

Mailing/emailing a notice to "start the clock" doesn't cost much and should be done to NOT lose time if tenant doesn't pay.

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

Also have less short higher level overview video: VIDEO: STEP-BY-STEP GUIDE TO FLORIDA EVICTIONSJoin the conversation here to share experiences, ask questions, and explore best practices for managing Florida evictions effectively.