These are becoming very affordable from retailers like Home Depot and Floor and Decor, and they really set you apart from builder-grade homes!

If you found a few handymen you could rely on, and make a trip out there for a few days to get things set up with shopping, decorating, and furnishing the STR that would remove the red flag of the property manager, and significantly boost your material participation hours to clear one of the thresholds.

It’s a great way to add value to a property without putting a ton of money upfront, and it can set you up for financial success in the long run.Has anyone else done a similar renovation project or used a gift of equity in their deals?

For active investing it is also helpful to have some type of advantage that sets you apart from other investors - that could be construction or rehab skills, market knowledge or anything else that gives you an edge.I was an active investor and didn't really have any of those skills.  

I know many landlords set a credit score threshold around 580-600 for Section 8 tenants since the program provides a rental guarantee.

Some investors will wait until they have several properties before forming an LLC but it's often beneficial to set one up early especially with your first property.

that will almost certainly set you back.hope this helps. 

We’re fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

Unfortunately, while there are other methods to acquire investment properties, the reality is you need cash and reserves to plan and set up your investment portfolio accordingly. 

That's a terrible idea.He should either install a smart thermostat that allows him to set limits, or he should remove her from the property.