This meant higher water costs and more strain on the piping.

Hello,I'm new to real estate investing and also to rentals (although I have house hacked with roommates and rotating medical students paying my mortgage for a few years).

This might strain the schedule for your project.Risk: Significant financial losses, including the possibility of losing your property in the event that you fail on the loan, might arise from a repair and flip project gone awry.Due Diligence: To make sure a hard money lender is respectable and reliable, it is crucial to carry out extensive research and due diligence before selecting one.Before proceeding with a hard money lender, consider your financial situation, risk tolerance, and investment goals carefully.

Paying cash for the foster family home seems like a compassionate choice, but if it strains your finances too much, it might be worth considering financing part of it to free up cash for the remodel.

Considering the potential for unexpected costs, especially with the unpermitted addition and the need for significant updates like roofing and windows, the profit margin seems tight.IDK, the significant dip into your savings for a project with many unknowns could strain your safety net.

Someone could be a 4th Year Medical Student from Seattle doing a 4 week ENT Rotation. 

When its time to retire, you rotate into cash flowing properties. 

This reduces the likelihood of financial strain and improves long-term profitability.

You'll also need to rotate all 24 properties at some point (27 years) in order to restart your depreciation. 

I've required rent up front for the entire period, proof of funds to ensure they could cover rent 3x for each month they were staying and a letter from their program administrator ensuring that the students were on rotation and were required to relocate after their rotation was over.