Start small with a multifamily property in areas showing job growth, population increases, or redevelopment potential.

For amount, it would likely be in the $500-700k range.My expectations are to have a negative cash flow while living there, and possibly a slight negative cash flow after moving out (until interest rates lower or rents increase).

Borrower Types: The Professional - HM Lender will cut sweet-heart deals to keep these borrowers around Experienced real estate investors Regularly engage in property transactions Typically have a track record of successful projects The Newbie - Charge Higher everything as the risk is higher as no experience Novice investors or first-time borrowers Limited experience in real estate Seeking to build their investment portfolio The Deadbeat - Only lend if the deal is so SWEET, they can't lose if they take the property from the Borrower Borrowers with poor credit history or financial difficulties High-risk borrowers May struggle to secure traditional financingThe lender will do an application on the deal/borrower and some standard docs they require are:Hard Money Application / ExperiencePurchase contractARV report – COMPS – See * Redfin*Pictures of Property – most people use Dropbox to shareProof of Funds – Down / Reserves (Bank Statements)Personal identification (ID or passport)But usually if the deal is sweet enough, they will do it anyway because if the deal goes south, there is so much equity/value in the property that the HM lender can't lose.

One of my fathers properties taxes nearly increased by $3000 and it was only $3800 before I tried to appeal all of my properties and unfortunately got denied

I ended up renovating the home completely and was able to increase rent and secure another 2 year tenant with three garages rented.

There are very few places where you can still get anywhere near the 1% rule, and in Omaha you really don't have to look that hard to find those opportunities in droves.Not to get too into the weeds, but I have a thesis that the Midwest as a whole will begin to outperform the coastal and southernmost cities as time goes on-- primarily driven by increasing COL & decreasing QOL in said coastal urban cities. 

For sure get hard quotes for the reno and for insurance and property tax increases.

@Cameron Porter +95% of the land bank inventory is already picked over by the time it hits the public.The only people we know that have bought ALL went over budget and only the increasing market covered what would have been losses.So, proceed VERY carefully!

Well owners who already had section 8 tenants in place didn't want to spend $5, $10, $15k or more upgraded a unit that has a tenant in place just to maintain the rents they had (or have a slight increase) so a lot of section 8 approved properties stopped taking section 8.Right after COVID though, it seems that section 8 has lowered their standards a bit.

The more time you spend on administrative tasks coordinating with multiple service providers, the less time you get to spend on managing your properties, finding new potential investments and increasing your financial returns.Tax strategies and property insurance are two areas that are highly customizable because no two portfolios are identical.