Plus the 1031 exchange agent's fee of $6500 for a build-to-suit exchange, the initial acquisition cost was close to $120k.

Larger families, remote workers, or investors could see it as ideal, especially if local schools or amenities like parks, dining, or entertainment are strong.

Aim for a 620+ credit score, save for a down payment, and research markets with strong rental demand.

I also have a few that I run/own on my own and those have nothing to do with her…so yes, I strongly support it.

Success often comes from picking properties with strong chances for rent income or those that can be improved in value.

We are in contract for another SFH in the Strong area.  

They’re generally easier to manage and can help you gain valuable experience in property management.When you’re ready to scale up and try strategies like the BRRRR method out of state, it’s crucial to have a strong local network.

Initially when we began we decided on things by gut because we were learning.

I run sum numbers for you please see comments below before refinancing and post refinancing .If I were in your position, I would approach it as follows:Initial Investment Assumptions: Market Value: $360,000 Purchase Price: $360,000 Equity: $0,000Financial Breakdown: Hard Money Loan (LTV 100%): $360,000 Interest Rate: 10% (30-Year Amortization) Monthly Payment: $1,995Upfront Costs: Origination fee (1%): $3,600 Closing Costs (3%): $10,800 Renovation Costs: $10,000 2 Month of Carrying Costs During Renovation: $5,390Total Upfront Required: $29,790Total Capital InvestmentPurchased price $360,000 Upfront Costs $29,790Total: $389,790To make this investment work, you need to rent the whole property for at least $3,165/month, refinance it let say after one year with 5% interest with a traditional mortgage.Year One Rent: Monthly Rent Income: $3,165 Monthly Rent Losses during renovations (2 Months): -$6,330 (-$527/month distributed over 12 months) Total Rent Income: $31,650 per year => $ 2,638 per monthMonthly Expenses: Hard Money Loan Payment (10% Interest): $1,995 / per month interest only Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $292 per month Assuming 0% Vacancy first year Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $2,637Monthly Net Cash Flow: $1Post-Renovation Refinancing Strategy:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate your initial investment of $29,790 plus your 360k debt into a mortgage.

While AirDNA suggests revenue could reach $80K–$90K with theming and strong management, the current $66K gross income and $4,300 monthly expenses result in negative cash flow, which may persist until rates drop for refinancing.