Update to this post:  Tony Viola was exonerated and never originated mortgages. 

If you can continue to renovate the 1st and 2nd floors, that is when I would update the plumbing and copper in those units.We may have a plumber who would work in that area...happy to share a contact with you.

We plan to update a couple of the units, and two of the current tenants' leases expire at the end of the month.

Hey BP Community - My employer does not match 401k contributions so I'm considering abandoning the contributions altogether and instead investing in something like the SPY ETF on a regular basis. 

Then I could start purchasing regular investment properties.Option B: Find an investment property first (higher interest rate) that pencils out while continuing to live in my condo, and then find another primary I could “trade-up” for with my condo, where I could eventually use it as LTROption C: Just focus on finding investment deals that pencil out at a higher interest rate with existing cash, and when I eventually move out of state, sell Condo.

Are you hoping for the partner to train you while working together, or would you prefer regular updates on the process?

Rent growth did help with deals continuing to meet the 1% rule though.Similar to your deal that was just shy of a 1% rule when you bought it, it sounds like you have had many major updates to do to each unit as tenants have moved out to get them to market rents.

Should be updated now.

Considering the high prices of other lots in the area, many have said I got a great deal.The land I bought has a 2-bedroom, 1-bath house that was listed as 550 sqft but is actually 750 sqft; the records just weren't updated with the city.

Hi all,I've been trying to find updates of the 1% rule and whether it's working in 2024, specifically when you're using a mortgage at 80% LTV, 30-year mortgage.