I learned this lesson the hard way when I bought my first investment property off market.You need tenants who stay for many years, pay rent on schedule, and take good care of the property.

I will say with honesty, DSCR loans are generally the “easiest” in the block when you are a lender who works with 100 different loans types but they are all still snow flakes and require individual attention.

Looks like you have a solid plan, compound interest will take care of the rest.Can i ask what mortgage product you intend on going with?

I advise to be very careful of who you have work on this project.

Hi all,I'm making a trip to KS (from CO) in a few weeks and will be seriously considering a few properties to be used as BRRR's and for mid term rentals.Question for this group:a. Anyone in this area? Or invest in the...

The tenants have not taken great care of the space, would this cause a lower reasonable rent? 

However, the seller decided to hold off on accepting my offer since the property had only been on the market for 7 days and they wanted to entertain other offers.This experience made me realize the importance of paying attention to the number of days a property has been on the market.

Does the landlord take care of them, or do you as the tenant take care of them?

One thing to be careful with is the last 3 years have been atypical for the Calgary market, it's been a good run, but don't expect these kinds of returns long term.

If you haven't lived there, visited there a lot, or have close friends or relatives there, you may be too detached from the area to pay close attention to it which will lead to PM skimming and just bad oversight on your asset.3.