But it can be done.I only recommend investing if you can find a quality property manager, one with at least ten years experience managing hundreds of rentals and really good reputation.

Time is critical, especially in competitive markets.Clear Offer Terms - Present a firm offer with terms that make the seller feel confident that you can close fast, with minimal contingencies or proof of funds.Due Diligence Preparation - Have your financing lined up and know your repair/rehab costs in advance so you can move quickly without second-guessing.

If it costs $500 to fill the oil tank and the tenant leaves it empty, that's $500 less you have to cover unpaid rent, cleaning, and repairs.

They understand that there's value in what they provide, which is steady, documented income, minimal turnover, steady payment, quality references, no drama, and peace of mind.

Complexity in Management: Managing multiple properties as collateral can complicate financial situations, especially if one property is underperforming or requires significant repairs.3.

The actual cost of any maintenance/repair/capex is a higher percentage of rent to reserve, the lower the rent levels are.Additionally, and this is just my personal experience, if you buy in a Class C area, you will get a Class C tenant.  

Repairs and Maintenance are not cheap and shipping carpet/furniture/etc to Hawaii calls for huge price premium so I would be sure keep a reserve for replacements.  

These employers frequently attract new residents and create a steady influx of good quality renters and prospective tenants. 5) The Albuquerque metro area and Central New Mexico enjoy over 310 days of sunshine and a mild climate year-round.

.🔴 Overly optimistic projections: Unrealistic ARV (after-repair value) or underestimated rehab costs can signal poor planning—or worse, a lack of transparency.🔴 Incomplete or disorganized documentation: Missing detailed plans, financial statements, or timelines could mean the borrower isn’t ready to execute the project successfully.🔴 Over-leveraged finances: Borrowers with excessive debt or insufficient personal capital invested in the deal could pose a greater risk of default.🔴 Questionable property comps: Overstated market values or inappropriate comparables may mean they’re inflating expectations.As always, thorough due diligence is your best protection.

In addition to doing regular inspections as soon as someone gives notice due and immediate inspection to determine if the unit is being kept up decent or if you need to plan on some repairs before it is turned.