Quote from @Teekap Pate: Hello, I have my first tenant application for my investment property come in.

It simply depends on your time frame, when you want to actually begin renting the property out short term, and what the loan terms are.

It can be done quickly but it depends on your willingness to get uncomfortable.

Basically, it just depends on the comps in the area and the property values in that area.

Some examples:Section 8 typically covers 80% of the rent (depending on tenant income), with tenants responsible for the remaining 20%.

Some carriers require limited water damage coverage depending on the age of the property and age of utilities.I would recommend at least 25% (ideally more) when possible and if you're limited to 10% you should make sure you cannot purchase another policy for a similar price.

It really depends on your market.

Success depends on finding properties in less restrictive areas with strong year-round demand and aligning your strategy with local rules.This post does not create a CPA-Client relationship.

Depending on the location and properties, consider having a game room.

If the latter, depending on the jurisdiction, YOU may need to be a licensed real estate agent/broker to engage in what’s commonly called “wholesaling” but is actually “flipping”.