The other part of this is that in addition to this, we are borrowing from our home equity line of credit to put down the 20% deposit- so we have that payment too.   

The projects finished up and we are super happy with the results.

Not ready to pull this trigger, but are we legally obligated to find a tenant or can we just tell them the offer has expired and that we are no longer seaking a tenant. 

Now that we are entering February, we will soon have the new data showing how we finished in January.

In some areas, we board up the 1st floor windows until we are about to start marketing the property.

It's not a black and white thing.

I'm currently in a rent to own house we are moving out of and will be renovating and renting.

It's led to incredibly high occupancy rate in the off-season, but I'd rather have a slightly lower occupancy rate in order to reduce wear and tear and leave some weekends open for personal use.I'm at a loss on what to do about this.

This would update the house and consolidation our loans, but we are trying to get out of the middle class trap so we want to purchase our next rental property.

Regarding Proformas, if you need some bookkeeping app recommendations, we are happy to help.