You can put your license in referral at most brokerages and pay no fees and still be able to do referral business.

My mortgage will be $2,005/month, and I’m budgeting up to $600/month for utilities, leaving a potential monthly cash flow of $995.I also set up an LLC and a business account to track rental income and expenses.Questions:Do you have any advice for me as a young real estate investor?

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

That said, I can handle it when necessary and have successfully built multiple self-started businesses and ventures in real estate investing (REI).

But it’s something I tailor the business plan to just in case.So your investor could get caught in having their loan called with not a lot of notice if things change.

Just a cost of doing business.

If you run out, you’re dead in this business.

Having before & after pictures is a string tool when dealing with HMLs and real estate agents to gain business. 

The purpose of any business is to grow. 

You rent it for one year and create a successful STR business that shows a trailing 12 month net income of $75,000.