welcome. would love to connect when your time allows

The market has understandebly dipped and it seems that it would be a good time to get in. 

In this post, I will explain the criteria and the information sources.Income requirements for financial independence:Rents increase faster than inflation: Inflation erodes the value of money over time, causing prices for goods and services to rise.

This money is still owed by the tenants and at times we were able to collect some of the money for the damages.Regarding installing a sprinkler system, it's only helpful if the tenants don't turn it off.

Currently, I have a weekly check in with my current contractor, but alot of time it is a chasing game.

But at the same time, this market just keeps climbing, and it doesn’t look like it’s slowing down anytime soon.Suffolk is definitely more affordable than Nassau, but even out there, prices are getting ridiculous.

It's exciting and can be overwhelming at the same time! 

With an owner-occupied loan, you can buy a house with 0-5% down and get 30-year fixed rate financing so you're not dealing with adjustable rates if rates go back up and not dealing with a balloon payment in 6-24 months which is plenty of time for an experienced investor but not a whole lot if you're new. 

As you mentioned intentional flips are typically considered inventory-This means the income is ordinary income and as such: - Is not a capital gain, so hold time of 1 year does not change to a better long-term capital gain rate - Can not be invested in a QOF Deductions related to it can't be pushed or changed- all costs are accounted for with the inventory component 

We are working on our first flip house and we didn't plan to do the BRRRR method, although it has come up in conversation multiple times due to the area it is in, we are still tossing the idea around of keeping it as a rental.