This is all in ADDITION to of course having the obivous (bed set in the master plus a couch) The main reason im debating is because its a 2 bed.

Here are a few things to keep in mind:Eviction Process: Courts often prioritize tenant rights, and during certain times of year (like the winter months), it’s tougher to get an eviction through.Legal Barriers: If the property is rent-stabilized or the tenants have protections, it could mean additional layers of complexity. 

Yes it explicitly allowed things like the term and rate, and I wrote that it should exclude anything additional which is unnecessary since I couldn't be there to read the closing docs themselves (which I assume can vary depending on what the branch leader/loan officer wants for the nonconforming loan).  

Understand the basics of private lendingResearch real estate marketsDetermine your investment strategy and criteria for loans, including:- Amounts- Interest rates- Repayment termsCreate legal documents with a lawyerNetwork with real estate professionalsPerform due diligence on potential borrowers and their projectsBegin with smaller loans to gain experienceMonitor your investments closelyConsider joining a private lending group for additional resourcesStay informed about real estate trends, lending practices, and legal regulations

The inspection will also vary depending on whether there are kids in the house or not - they don't care about a couple small flaking paint spots if there are not children. 

This policy will provide additional coverage above what your existing policy covers.

Also, Investors need to be prepared for and understand if there are additional costs that come with foreclosures, such as water bills, and potential fines for property upkeep.

You have less control with a property like this when compared to other asset classes.The upside here is that it seems there is room for negotiation because of the below-market rent tenants.If you're looking to put down $200-250K, I would recommend looking into a multifamily property, especially one with additional income potential. 

Personal background: Married with no kids, 100% debt free, live a rather tame lifestyle and don't spend large amounts of money, two newer vehicles (2020 & 2024) so no vehicle purchases expected for the next 10 years. 

Effective  12/1/2024 @ 12:01a the Louisville rental registry requires the 16 page Lead Hazard Evaluation form in addition to the Affidavit of Compliance.