I want enough money coming in so the business can sustain itself when issues occur with maintenance or vacancy.If you wanted to do this with only 20% down ($46,000), which is all you need for a conventional loan, here is how the calculations change.Total mortgage + escrow $1,493.33 per month with cashflow reduced to $306.67 per month.I prefer to overestimate purchase price, interest rates, and homeowners’ insurance to be conservative.

If you hear from him again or an attorney, be sure to respond immediately by your own attorney if necessary.Not sure what the laws are in your state, but you want to do whatever you need to to confirm the tenancy has ended (whether that is by abandonment on his part or with proper notification to end a month to month)

Do I need an LP?

We also had to do some substantial repairs on the sewer line.

While I think neighborhood farming is a good idea, I'd say instead of doing it geographically, think about who is most likely to move in your community. 

RV rentals can do well, especially in popular outdoor destinations.

The best way to gauge value is to do it yourself based on reviewing comps taht were sold and condition and come up with your own number is what I have found. 

Syndication opened doors I never thought possible, and I’m excited to keep pushing forward, taking on bigger deals, and helping others do the same. 🚀 what types of deals are you syndicating now or what does your 2025 look like? 

@David Weitzel great deal, and welcome to the forumns, I love the idea of doing a flip on my own street, seems easier to keep things under wraps but perhaps you still had contractor issues it sounds like?

Although, we have a similar structure for our PMA’s, we do not treat security deposit as income but more as reimbursement for damages.