These are professionals with additional training and a stricter code of ethics.

Repeat the process to earn a $73,375 gain, which you roll over once more to end three years with about $174,000 and a 348% return.

This would be an opportunity to discuss deferred payments and a 5 year balloon. 

So now I have both my personal residence and a leased property as STRs.Even though I live 3 hours away from my leased STR property, I've built a team that assists with managing it, so I don't have to be there all the time.Here are some key things I've learned:Regulations: Research the specific STR regulations in the state and city where you're looking to buy.

I am in northern Minnesota, I'm still roughly a year and a half away from graduating so I am just gathering info at this point.

Quentin, build your knowledge, make sure all this is done correctly.Banks rarely call the loan just because of the deed being transferred, something else triggers this, mostly because the investor decides education is not worth the money.It can be because the Insurance was not done correctly, the seller does not understand the process, the Title Company does not know what to do so they call the Bank and make a mess out of the process and a few other factors,If the investor is knowledgeable on what to say to the Bank if they call this is a fairly simple conversation to have.

Your realtor will be able to give you a much more detailed market specific answer but with house hacking and a VA loan it should be possible to get 0 out of pocket.

We also lead a Joplin Area REIA on the First Tuesday of each month at Old Chicago/La Quinta and a Springfield Mo REIA on the first Thursday of each month at the Relics event center.

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate which is around 7% in today’s market).If the property requires rehab, the Realtor and/ or Mortgage Broker will suggest applying, for a FHA 203k Loan.

After saving 15% for vacancies/maintenance and all other expenses, this property cash flows $23 p/mo and a 0.48% CoC ROI.