Our clients trust us to do the right thing, not because we simply ask them to trust us, but that trust is earned through our actionsI think a lot comes down to experience when choosing the right PM for you.

You would need to earn equity on the new property to be able to refinance and pull cash out.

You can see if you can apply and qualify for a loan through the bank but most banks will follow federal standards and guidelines which allow them to sell the home to Fannie or Freddie if they so desire.

If it helps, 800 credit score and theoretically could build for cash...but cash is earning more and doesnt want to tie up the liquidity.

With each property potentially taking over a thousand hours of work over many years and most of your earnings coming from appreciation, be sure to shoot for owning a minimum of 20%–25%.

I would find out their DSCR ratio and make sure you can hit their minimums either upon purchase or when they desire those ratios (maybe after stabilization in a year or so).5) Unit Turns/ Re-Leasing.

I'm originally from San Francisco CA (started off as an out of state investor in 2021) and have no desire to become a landlord in CA. 

Use this to compare potential earnings against your operating expenses.4.

Start-up costs are also deductible but are amortized over 15 years with a limit of 5k.Start-up costs have strict rules and your case might not be the same as this one.Case Summary:Timeline line of eventsStarted investigating property: FebPut first contract (canceled): MayBought first property: December 30thWhether a taxpayer is engaged in a trade or business is determined using a facts and circumstances test under which courts have focused on the following three factors that indicate the existence of a trade or business:Whether the taxpayer undertook the activity intending to earn a profit;Whether the taxpayer is regularly and actively involved in the activity; andWhether the taxpayer's activity has actually commenced.On the basis investor testimony, we may assume that he undertook this activity to make a profit and that he regularly and actively engaged in it.

You could borrow a second against the $400k of equity in your property - and accept short term negative cash flow to earn a lot more on the great deal you don't want to pass up.