I discovered the BP real estate podcast about a month ago and got hooked! 

Do I have to let these Mortgage companies know or let them discover it later.Pls advise!

A few weeks later, I discovered that her house was back in the market at a reduced price, so we decided to make a lower offer in order to make this a great buy and hold rental.

We self manage so that means our team “secret shopping” visiting properties in the same area to actually walk some units and see how they stack up to yours.

You can do it......One book that really helped me is Credit Secrets from Scott/Allison Hilton, but again I'm sure you can find something on improving your credit on BP.Have Faith and Good LuckJoanne

Here’s the secret: Create an LLC and have the LLC lend you a mortgage on the property you are receiving.The reason why this works is because instead of you needing cash or receiving a cash out loan, we are now refinancing a loan – your loan.

So, while the dwelling coverage in a landlord insurance policy may help with the repair bills if a tenant inadvertently damages the unit while moving furniture, the costs of cleanup if you discover a disgruntled tenant spray-painted the walls may not be covered.”Do you know of a carrier that does cover he above?

Projects like this often run well over budget and take months to complete because once you start pulling things apart more and more problems are discovered.

I’m guessing there was no survey done, hence no one discovered the “land locked” issue?

I discovered BP through the podcasts and really like the BRRR strategy.