Instead of waiting for others to reach out, take the initiative and actively seek out the top wholesalers and providers of off-market deals in your area.

I have an experienced opinion on the matter, but am seeking outside perception and strategies, if any.Additionally, what are the implications of the NAR Settlement regarding this strategy if any?

Readers should seek professional advice.

Readers should seek professional advice.

Welcome to BP and congratulations on seeking to begin your real estate journey.Are you looking to invest, purchase a home to live in, or perhaps explore commercial properties?

As far as I know there isn't clear guidance on this topic from the IRS, but most professionals take a similar view as Melanie above.

If you were to seek a LOC against #3, you would not get much as an investment property its very difficult to get a LOC and they typically will not go above 75-80% LTV which is where you are at.2.

Good luck on your journey and feel free to reach out if you ever need any guidance or advice

Even if the tenant can’t pay, it sets the expectation and documents the issue.Small Claims Court: If the tenant refuses to pay, you could take them to small claims court, where you can seek repayment without needing a lawyer.Security Deposit: If the tenant has a deposit, apply it toward the damages.Consider Eviction: Given the arrears and damage, eviction might be a last resort to prevent future losses.Talk with your property manager to create a plan that minimizes further risk.

Did you ask for something and did they answer or were they seeking you out?