The wholesaler created new terms with the tenants and the wholesaler plans to hold it so that the new loan gets seasoned, before selling the note.I opted not to get involved and have started my knowledge building into private lending.

We also have a PLAN to improve the properties, thus increasing rents and improving cashflow.So, it's important to have a pretty good PLAN about what your goals are!

A cost segregation study is a strategic tax planning tool that separates the assets that have a shorter useful life and can be depreciated over 5, 7 and 15 years from the residential rental property or nonresidential real property that are depreciated over 27.5 and 39 years, respectively.

If the plan is to use this as an investment property, your client may want to check out a DSCR loan.

We leave everything in the business for Real Estate so $500/month is a good number for us, then we can add to our reserves, plan a fix, or save for the down payment on the next one. 

Would be a pleasure to learn from your experiences, your insights into the market, and enjoy a meal with a new colleague.Thank you!

Property Management: Are you planning to self-manage or hire a property manager?

I explained to the landlord what my business plan was, and paid him a set rent amount each month (though slightly higher than market rate rent).

and planning to attend meetups while there is another great idea.  

A HELOC could help temporarily if you plan to payoff the balance quickly and are planning to save on monthly payments in the short term.