Connect with a lender/agent locally to get a feel for the area/what you can qualify.

Keep detailed records of repairs, improvements, and rental income, and consider working with a CPA specializing in real estate to ensure you're taking full advantage of deductions and strategies like passive losses, home office deductions, or even the Qualified Business Income deduction if applicable.Good luck!

@Matthew Cook I would NOT pay for the renovations unless I was on title or had a very formal contract written about the split of profits.

In regards to the lease signed June 3rd 2024.This is a formal notice to vacate.The lease will be over at the end of June 2rd 2025, provided that no more lease violations occur before that.

Hopefully, you find it helpful and qualifies us to assist you with your goals:)---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

That'll help you figure out what direction to aim in before speaking with a bank to figure out how much you can qualify for. 

Qualifying alone or with other GP/LPs?

And you'll have a solid W-2 income to help you qualify for loans. 

How many mortgage lenders have you spoken with to get qualified and discuss allowable down payment options?