For us, screening takes place from the time we (someone from the office) speaks to the potential tenant, through the showing, and the application process.

Looking back 10 years this complex had dues increase for most years at around 3% but for 2023 it was 18% and 2024 19%. 30+ year old complexes really start wearing down and many times were not the highest quality construction.

What I am talking about speaks to the Notes themselves..

Speak to an advisor as I am not one but I believe Your cost basis is going to be an issue when you sellLet’s say you assume the loan today for $120k and in ten years you sell it for $500k.

If you have enough unit it will make sense to have cleaner on your payroll but to starting off, most common sense is to find a very high quality, reliable cleaner that works with your budget.

@Nada MohamedI recommend that you speak with your accountant and several cost segregation firms to compare benefits and prices.

@Jason Porto generally speaking, I begin with around $10k in reserves for a new unit, and contribute around 11% of gross rent each month towards the reserve account (repairs, vacancy, capex).

There's plenty of quality inventory under 400k in that market. 

Winning with cash really depends on the quality of the property and the timeline of the seller.

I'm an out of state investor, therefore when I speak to some local credit union they request I reside in the area to obtain membership.