This way, you would be paying for the roof as part of the property purchase, allowing you to claim the tax depreciation once you take ownership.Delayed Closing with Roof ContingencyAnother approach is to add a contingency to the closing that allows you to replace the roof before closing but delays the actual closing until after the roof is installed and insurance is in place.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.PM us if you’d like to discuss this logical approach in greater detail!

Even if you view yourself as a passive investor, I always recommend investors take a hands on approach with their earliest properties as it lays a helpful foundation.With respect to turn key operators, I've personally found their objectives to be at conflict with the objectives of investors like yourself.

Due to this I was thinking a market outside of Colorado would be a better approach.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Approach your family member directly and honestly. 

Keep in mind, though, it will require significantly more time and effort but offers the potential for higher rewards through forced appreciation.If you aren't wanting to be as hands on with your real estate and want to approach it more as a side hustle while you focus on your career, the turn key option may be better.

The following is our approach, not just financial, but mental also getting ready for retirement.1.  

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

How are you approaching funding your deals in this current market?