Since you’re looking for landlord-friendly states, consider areas in the Southeast or Midwest, where affordability and cash flow potential are often stronger.I agree.

The DSCR loan is a great tool because it's looking at the income potential of the property, not just your personal finances.

If its a log cabin it might have trouble qualifying for the refi - would be smart to get some opinions early if that is your gameplan - would likely be a bigger potential hurdle than the gift/original purchase process

I’m stuck when I try to run numbers on a potential deal, how do you generally estimate rehab costs?

Any year I do this in the future there is a 2 year look back for health care cost.

I've never heard the 25% thing before, but any difference between FMV and sales price would technically be considered a "gift" with potential tax implications for your parents.You can avoid most seller costs as there's no reason to use agents in this case.As an FYI: I always recommend avoiding a FHA loan, if you qualify for a low-down payment conventional loan.

I would also get a 1099G for whatever grant was received so not exactly "free" but could be offset other ways potentially. 

Software: Stessa for accounting, Deal Check for quick and dirty analysis of potential purchasesMarket positioning: Pet-friendly (fenced-yard, accept dogs and cats), well-designed homes, off-street parking, suburban, full cable TV package (not streaming only)Pricing: Targeting upper-middle market (not budget-conscious guests)So far, so good (since 2020)

To me it wouldn’t be worth the trouble to go after the other person or worth the potential liability of it happening again and possibly hurting someone.

Note: Our initial goals are to wholesale to build immediate working capital (targeting $150k) and hold for cash-flow to build 10k/mo FCF (free cash-flow).We have made some cash buyer connections, identified and underwritten potential deals on hundreds of current deals, and developed professional relationships in our target community (cleaning, construction, governmental).