Something else I found with BRRRRs in my market right now is that even if my equity may be enough to cash-out everything I put into the deal, the rent I could get would not cover that high of a mortgage.

The underwriter of your loan may want to see your current property be leased and make sure that it covers your PITI, but that will depend on the guidelines of your lender.

In retrospect, some yellow flags found by the property manager during the tenant screening are now bright red flashing sirens, but the tenant showed decent credit, had a positive previous landlord reference, wrote a charming cover letter in his application, and applied through the referral of a reputable real estate agent.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Interestingly, you can list the property in U.S. dollars and receive payments in U.S. funds, which means I don't really use COP except to cover utility costs like internet, water, and electricity.

(Of course make sure it covers your costs).

In Milwaukee, look into networking groups like the Milwaukee Real Estate Investors Association (MKE REIA) lot's of different approaches covered including wholesaling and flips, or if you decide on buy and hold the Rental Property Association (RPA) of WI is great.

Otherwise with no income you are looking into just buying all cash or using a loan called Debt to ratio income to purchase investment properties where you use the rent to cover your mortgage but you will need to put down at least 25% down of the purchase price.

ya absolutely. most people just recommend multi family because it allows you to offset your income while living there without having roommates. also they tend to cash flow better so if the plan is to do this year over year making sure the rents cover your DTI when you move out is very important.

A solid understanding of the rules can open up opportunities you didn’t even know existed.House hacking can be a powerful strategy to build wealth while covering your living expenses, and incorporating advanced strategies like 1031 exchanges can help you scale faster.