@Shaheen Ahmed- thanks - if you plan to live in one of the units - there are conventional loans that allow as little as 5% down .....or  you can also use a FHA loan .....if you plan to not live in the property - the down payment will  vary based on the  property you buy - IF you havent already done so - get fully pre approved with a lender 

You simply obtain funding based on your net cash flow after debt service and 'pledge' that cash flow for a period of time (up to 5 years, no pre-payment penalty), for a cash advance.

@Lor Fara Great questions.Regarding Underwriting: That's is a fancy way of saying "running your numbers" (according to your pre-determined returns, criteria, or goal requirements). 

In every county except Jefferson County, if the assessed owner's name was in the pre-auction advertising, and that was the name called off at auction, but that person died before the auction, then the tax sale is void.

Great point that we will need to take up pre-formation! 

Furthermore, understanding the resident characteristics allows me to measure the target market and modify my investment strategy accordingly.Inspection ChecklistSituations vary from one property to the next, but here is an on-site inspection checklist to get you started:Interior Units:Inspect vacant units, including one of each finish out type (Classic, Reno, etc.).Check all down units.Inspect one unit from each unit mix.Exteriors:Landscape:Look for overgrown bushes.Identify trees that need trimming (no branches hanging over the roof).Take pictures of the following:Curb appeal on all sides facing the street.Landscape around the office and amenities.Overgrown bushes or trees.Any dead landscape.Areas that may need sod or mulch.Assess drainage:Ensure water flows away from building foundations.Check slope, gutters, downspouts, surface drains, French drains, etc.Exterior Walls:Determine the existing material (wood, vinyl, Hardie, brick, stone).Assess the condition of the walls.Note if painting is required.Take pictures of each building, including building number, each elevation (clockwise), and any breezeways or niches.Windows:Evaluate the condition of existing windows.Consider whether solar screens should be installed.Roof:Identify the type of roof.Assess its condition and age.Parking Lot:Check for potholes.Assess the need for restriping.Note whether the parking lot is concrete or asphalt.Evaluate drainage issues.Walkway:Look for tripping hazards.Assess drainage issues.Foundation/Gutters:Inspect for cracks in the brick.Check for separation in corners from fascia and trim boards.Evaluate drainage and identify poor drainage areas.Amenities:Identify possible improvements.Consider adjustments or additions that can enhance amenities.Talk to the Staff:Maintenance: Inquire about the physical condition.Office: Discuss current residents, delinquency, and potential changes to add value.Assess whether rents are too high or too low.Confirm rents and what is included/not included.Confirm other sources of income and associated charges.Confirm occupancy, pre-release, and vacancy numbers.Note: Maintain professionalism and avoid insulting the owner or broker, regardless of the property's condition.Keep in mind that investing in real estate is like solving a puzzle—you need all the pieces to see the big picture.

The real concept should be buy a good house in a good area, pay it down to where it's a low monthly payment in a 3-7 year time frame through recasting + pre paying mortgage. 

Hi Mike - I have automated messaging for several points throughout the guest pre arrival and arrival and check out process, however I supplement that with my own messaging such as asking about restaurants or if they want to stay an extra night.

Usually if they have a RAFT pre-approval letter that states their approved then you know they at least went through some kind of screening process. 

I’m in the process of getting pre-approved to purchase a turnkey duplex.