@Mindy Jensen and @Kevin Leahy I'd like to come back onto the podcast to give an update on the lease option model and how we have switched up that model to what we call the floating lease option.  

Join local real estate investment clubs, attend seminars, or engage in online forums to stay updated on the latest trends and strategies.Remember, real estate investing is not a get-rich-quick scheme.

You'll need to be very careful with your renovation budget and timeline.Your renovation estimate of $120k-$150k seems reasonable for adding a bathroom, redoing the kitchen and existing bathroom, closing in the garage port, and doing cosmetic updates.

**Insurance Issues**: Ensure the property insurance policy is updated to reflect the change in ownership to protect both parties in case of damage.3.

A little context: the building is structurally sound and they have done major updates such as septic, generator, and sprinkler system, and all mechanicals are recently inspected and tagged.

You will never see 2.1% again in your life so before you move you should do all of the renovations with the equity so it's fully updated when you decide to leave so it actually becomes a strong cash flow property and not one you leave with stuff to do and it all comes up at once.

@Joe MonaghanJoe, do you have any updates in this project?

The property is listed for $259,900 and needs new floors and updating to the kitchen and bathrooms.

Good luck and keep us updated!

I will need to do some minor updates to the property (painting, updating bathroom tiling, updating trims, etc) in order to get the property rent ready.