Budget these carefully into your overall project plan to avoid surprises.Rehab Budget: Ensure that bids are received from multiple contractors and that adequate reserves are made for cost overruns.ARV: Be conservative on your ARV since the appraisal concerns one person’s opinion.

Your client should consult a real estate attorney to draft an agreement with the ex and ensure there are no legal or tax issues, especially since this is an investment property.

I highly encourage everyone to view the property before putting money down, but that's not ideal for many of them, so I do allow them to rent "sight unseen," but I am very open with them to ensure they don't show up and back out.1.

Ensure you account for expenses like maintenance, vacancy, or capital expenditures.

However, it’s important to ensure the area is safe.

First thing I'd look is the zoning for that property to ensure ADU/multifamily is even possible.

Use services that can validate the authenticity of documents and employment history.Require Detailed Applications: Ensure that the rental application captures comprehensive information, making it harder for fraudulent applicants to provide fake details.Conduct In-Person Interviews: Meeting applicants in person can provide additional insights into the authenticity of their application and allows you to ask follow-up questions based on the details they've provided.Utilize Professional Screening Services: Professional tenant screening services are invaluable for conducting background checks, credit checks, and criminal history checks.

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.Creating an LLC in California could cost you a minimum tax of $800 every year.

Ensure that you thoroughly review your state regulations and display the necessary notices before changing any locks or removing any items left behind.

You can build your own team i.e. title co, insurance, pm, contractors, handyman,process server, lender etc.... or you can find an operator who can get you going in that market while simultaneously building out your team.Section 8 housing is a great way to ensure consistency with rent payments however not all tenant who have HCV pay 0%.