we did the first 3 in a 18 month period we used internal funds so no debt.. these were 350k to 400k all in projects.. so U need cash to be a spec builder or you need investors if you dont have cash..

If your property management company is good and has built an internal maintenance team which has set rates and had strong relationship relationships with licensed contractor which should keep costs in control, you should never need to shop contractors on your own I wouldn't think.So in short, our policy is give us your preferred contractors upfront if you have them, but then we work all tickets to resolution including dispatch, and payment of invoices.This is of course for operational expenses.  

It all started when my wife's college friend offered me an opportunity to invest in a commercial property.

Admittedly, I am not one that typically finds paid mentorship very valuable, but I also respect that my degree is in business with a focus on real estate, and my first job out of college was in real estate (so it is a little hard for me to take my 20 yrs of knowledge and rewind it to try to view mentors from a completely fresh lens).A couple points: I view mentors, especially these expensive ones as a catch-22. 

Yes you can use commission as sourced funds for down payment on a conventional loan.However some lenders have internal overlays that don't allow it.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

I'm right down the road in College Station/Bryan area and would be happy to connect anytime I'm in your area and vice versa.

Very close to two college campuses and downtown. 

Looking at rentals for college students

Think basic, durable furniture that looks good but can withstand college life.4.