Since your friend covers utilities, this offsets some of your cost.

They do all of the heavy lifting.

Currently, less properties are qualifying (or lower LTV being offered) due to the rental income not covering the mortgage loan plus expenses.

This will lower interest costs and free up future cash flow for reinvestment or reserves.Tax Planning: Work with a CPA to mitigate tax impacts from principal-heavy payments and potential gains.

The problem is that you have to accept the dog but the insurance carriers do not cover bites from Pitbull's.

- For those who build in phases, how do you structure budgets and plan cash flow to cover extended construction timelines?

HI Bracken, I have a rental house in Ogden, and you're right the market has really been going up recently.My goal on such homes has been to buy with 20-25% down and have the rent be able to cover my PITI & professional property management.  

One of the reasons I asked the question is that it seems strange to me that a property management wouldn’t take anything upfront if they inherited a house that wasn’t ready for rent .Our property management also does the cleaning ( deep clean over 4 days was $1000 but they had to deal with some nasty pet hair , fleas etc)and that included some cover up paint etc .One lesson learned here is every contract with owner : property management varied greatly it seems from what is needed .But moving forward - I feel that $500 a month on a $2100 a month property is too high once it’s rented - unless endless problems persist of course ..thanks for your insight!

Financing was streamlined through Partner Driven’s program, covering both the $50,000 purchase price and the $35,000 renovation budget.

Some real estate brokerages may even cover the cost of your license classes.