I have basically 1) rewarded poor tenant behavior 2) tenant has no eviction on their record making it more challenging for a LL to determine that the tenant has been paid before and seeing it worked so well is likely to repeat the same $hit.  

That would put you between probably $3500-4500 depending on dp, property taxes etc. 85k salary, let’s say you are taking on home 60k, like even with house hacking, you’d simply at best be extremely house poor, at worst would be challenged to afford the mortgage, the vast majority of people buying homes in our area at this point in the cycle for a variety of reason are dual income households, tbh for a single person making 85k a year, you are just much better off renting or moving to locol area if remote or hybrid.

Goodmorning Johana,Best bet is we refinance the note and see what kind of terms we can get going on this.Typically can close fairly quickly here in texas using hard money notes.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Hello,I wanted to know if I have a below poor credit score would it be beneficial to first try to fix my credit or create an LLC and build my business credit to start investing in real estate and worry about my personal credit score later?

Which is true - but the refi is going to cost you $3,000-$5,000 in closing costs again - which actually moves you backwards by a couple of years to recoup those costs at the $200 more per month you will make once rates get back down to 5.x%.My bet is that unless you can find some seriously undervalued real estate that your numbers won't look pretty at 8% interest (all in).  

You can probably do it in areas without zoning or farmland, but it is very difficult in a traditional residential zone.Your best bet is to look for areas along busier roads that are currently residential and turning commercial or already turned commercial with lingering residential.

If you're using all cash then obviously that's not an issue.Another thing to consider is if the land has deed restrictions, checking on the city website or MLS would be your best bet there.I'd love to learn more about what you're trying to do and maybe be able to help answer any questions you might have!

I do agree that mechanical upgrades are a good idea if necessary, those are almost always a safe bet for ROI and resale-ability.

I bet you do a great job rehabbing!