If the security deposit is not going to cover the the water bill or damages, try to scare him into covering the balance by hinting at sending him to collections and it will appear on any future credit pulls he may have done.

Hard Money Loans: These are short-term loans from private lenders based on the property's value rather than your credit score.

Having bad tenants is not something you would like to have, thus make sure the tenant has sufficient income, credit, and who they are.

Inspections may cost more upfront, but they can save you from significant headaches and unexpected expenses down the road.Negotiate Hard: Use inspection findings as leverage.If the HVAC is near the end of its life, negotiate a credit for its replacement.If the cast iron plumbing is deteriorating and needs replacement, ask for a credit as well.Sellers often prefer negotiating credits over doing the work themselves.To give you an example: I was once under contract for an old house priced at $170,000.

Credit agencies ding you for having a statement balance.

It will also be more expensive than just looking into a line of credit with a local bank. 

Many thanks for any insights & guidance.TimThe only up front fees you should have are an appraisal and credit report.

If your goal is to acquire many units, consider looking into more affordable markets such as Akron, Cleveland, Dayton, and Toledo, which tend to be more favorable for this type of investment.

I would consider selling a property to pay off the credit card debt.Maybe your husband can manage the STR listings and potentially do the cleaning.Best of luck

There are a lot of groups out there right now that had made-for-TV track records that will likely not be in business in a couple years.Focus on the experience of the team, how long they have been in the business, how many market cycles they’ve survived, their philosophy on leverage, and how many properties they bought in 2022/2023 (a good answer would be few, a great answer would be none).And do yourself a favor and read The Hands-Off Investor (in the BP bookstore) before you invest a single dollar in a syndication.