We really stretched ourselves thin. we did not perform our own inspections because we were busy raising finances .. and our agent insisted we use the same company who did the initial inspections to “get a report in our name” .. we went for visual inspection with our agent and found the master bathtub was  upside down — they said there was a chip and seller was fixing the tub.

Initially, I did it wrong and they reached out explaining the violation.

I have a very picturesque property that I have thought of using as an Airbnb type situation, initially with a building not is use....however I am on a creek, with a little dock.

So even if you were experienced at a 90% LTV on the initial PP, you would need to put down 70k + Closing Costs if the purchase price is $700k. 

If I didn't get a switch initiated in time for an STR guest's arrival, I could put myself in hot water.

have a very picturesque property that I have thought of using as an Airbnb type situation, initially with a building not is use....however I am on a creek, with a little dock.

I learned about the free tools - Zillow, Trulia, Bing Maps, Netronline - how to check title, get BPOs, where to look for bank contacts and sources, how to evaluate the property and develop a bid based upon my initial selected exit and to view REAL deals in progress and watch the results, good or bad.

A SFR was built in 1947 and required renovation.The 2nd parcel, which is right next to it, is an vacant land, no address associated to it.My initial thoughts are:1.Purchase this property and rent the house after minimum required updates 2.

My initial goal is to earn enough passive income to cover all my bills, which amount to approximately $3,500 per month.

We do want to get the appropriate permit but I am thinking that will take a lot more time and additional expenses to have it all in order and we need to be able to refinance it since we are purchasing cash (we are having a hard time with a lender which we initially wanted to do a rental 30 year loan, but not sure if there will denied due to this non permitted alterations to the house).