Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

Understanding the markets to avoid, what laws to watch out for and selecting the proper strategy that goes with property plays a huge part in this. 

I absolutely love the design aspect of the projects.

And finally, What are some common mistakes new real estate investors make, and how can I avoid them?

@Kristin MathernI would pay it given no keys were provided, it wasn’t specifically addressed/mentioned in your lease, you were provided the opportunity to address/fix yourself with a 25-30 dollar replacement from Lowe’s/Home Depot, and lastly, it was an existing situation that could have been avoided/prevented at move in.

Directing the traveler to pay outside of Vrbo  Directing the traveler to contact you via social media  Providing alternate booking methods that avoid paying any fees to Vrbo  As a reminder: all communication, payments, and bookings must be made via the platform through our secure checkout. 

Also, we have very competitive non-qm options that will allow you to avoid the overlays given when going with a GSE loan while also offering comparable rates.

Considering buying the corp so avoid land transfer tax - that might help with the numbers.

This may result in lower rents and recoverable expenses, but it avoids a future lawsuit against you.

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.