We did not vet our contractors very well.

Agents, property managers, contractors—they need to be reliable, and you need to vet them thoroughly.

Don’t forget to get title insurance to, and get the owner’s paperwork showing that all contractors, subcontractors, and materialmen have been paid.As for short term rental of a condo you buy, most condominium associations don’t allow that, and for good reason.

Bird dogs go out and find property, they don't put it under contract or do any of the other work that's involved.

._____________________________________________________________________________________________________________7/28/24 - UPDATE WITH NEW PICTURES.Hi all, just sharing the update and the experience, we finally after interviewing about 4 different contractors picked the right one so far.

Side note, she was able to get into this property for just under $13k and we we're able to negotiate the seller putting in a new AC unit as well as paying a $7000 invoice to a contractor to replace the roof.Moreover, if your credit is solid, I'd opt toward a 5% down conventional loan if you're leaning toward the 3.5% down FHA route.

._____________________________________________________________________________________________________________7/28/24 - UPDATE WITH NEW PICTURES.Hi all, just sharing the update and the experience, we finally after interviewing about 4 different contractors picked the right one so far.

If you start self-managing in January and continue through the rest of the year, you should definitely be able to satisfy that requirement as long as you’re more involved than anyone else (including contractors and property managers).

Someone suggested going for a student housing rezoning permit but I don't want it to take up a huge portion of the time of my contract or cost exorbitant amounts of money..

We're bringing a knowledgeable general contractor to the property walk-through next week to assess potential risks, and I will also check the HVAC and electrical systems myself, as I have some experience in these areas.