Plan for Economic Downturns- Emergency Fund: Maintain a cash reserve to cover unexpected expenses and vacancies.- Diversification: Diversify your investments to reduce risk, including different geographic locations and property types.Your excellent credit score, lack of personal debt, and existing portfolio put you in a strong position to expand.

If they fail to turn on power, you can file eviction.

They have a lot of power and will often get involved.

Dan Powers - New Western

Just another opinion from an inspector and investor perspective: it is important to have an electrical shut off switch (at least 6 switches or less) to kill all power to a home in case of an emergency.

It's like getting a power-up that makes your spending power and returns even stronger.

@Dave Ivery Lots of simple but powerful advice given already.

1031 exchanges are a powerful tool for real estate investors.

So if there is built in equity in the property, you would be missing out on it because of a presumed prepayment penalty, but its a great way to leverage the bargaining power of cash while still maintaining capital to buy multiples at a time.Would be happy to help if you would like to take a look at what you would qualify for.

I am totally new to REI. Im here in Southern California, I wanna know how the market is here in terms of BRRR's and mid-long term rentals. My goals with REI is to generate as much cashflow and appreciation as possible...