By this time, I realized Chris was wholesaling the house to me (unlike the other houses on the tour) and charging me to manage the project.

It’s a motel/RV park located in a rural market with seller financing on the table.

Not trying to scare you, but a lot of lawsuits happen because the landlord doesn't follow fair housing laws, or simply neglects repairs etc.

My name is Wes and I live about an hour north of Toronto, Ontario, Canada.Looking to get into real-estate investing with long term rentals, BRRR, and House hacking.Currently looking to also find other other local people to chat to about real-estate and how to get started in our currently price inflated Ontario market.Let me know if you're in my area!!

If he kept the house, then your statement would be correct, because there is no immediate taxation of insurance payout.

Here's a fundamental explanation to get your juices flowing:Assume a house costs $200,000 and rents for $1,500.

-Bill Mcbride newsletter if you want narrow and deep insights about weekly trends in housing -JBRE is a good one for deep dive on housing stats.

.- If you're going after a seller finance deal I think once you understand what it will take to get to a finished state its simply a matter of aligning your needs as far as short term cashflow with the current rents/situation, with the net number the seller needs after the refinance.  

I love investing and developing myself, but I do not have enough experience, and this is what makes me hesitant to enter this field.So I want to ask you, what are the ways that will make me start investing in real estate or long-term housing?

We recently relocated from our primary residence to a rental property ourselves (we recently welcomed a baby, and our house no longer accommodated our evolving needs).