We're considering using an FHA loan, but due to his credit score, we haven't started the preapproval process yet.What steps would you recommend we take to secure funding for our first investment?

Ensuring the safety and security of my guests and property is of utmost importance to me.

That you can secure CONTROL and MONITIZATION of a property via a fractional capital outlay vs it's market value, better known as a down payment.     

My current focus is on securing my first deal under contract using PropStream & Off-Market strategies I am eager to connect with experienced investors who can provide insights or advice to help me navigate the early stages of my real estate journey.

Partner effectively, focus on securing your first deal, and build savings and credit.

I copied this from the Chicago RTLO which is attached to the CAR lease:-Before a landlord can deduct expenses for damages from the security deposit, the landlord must provide the tenant with an itemized statement of the damages within 30 days of the date the tenant vacates the dwelling unit.

Changing the locks and adding security to the home, to ensure he does not vandalize or damage the property.

@Joe Si With a $10M net worth and the goal of early retirement, a balanced allocation could be 40-50% stocks for growth, 25-35% real estate for stable income and appreciation, and 20-25% fixed income (bonds) for security. 

When we bought we were able to secure a 3.5% rate, put 20% down, $30k in renovations.

Request a full handover of tenant files, maintenance records, current lease agreements, rent rolls, and security deposit information.