REPS hours.4) Getting ready to rent the property pre-close but post-contract:  Understanding HOA rules and incorporating them into proforma lease agreements; preparing and posting rental advertisements; shopping for, selecting, and purchasing furnishings to equip the house to be put on the rental market.  

@Nate  Do you mind sharing the details of the attorney you used for the lease preparation? 

Be prepared to adjust the price if necessary to attract more interest.Prompt communication: Respond to inquiries and messages from potential renters in a timely and professional manner.

Prepare to get your lunch eaten, @Armand P. 

Always be prepared for worst case scenarios.A place that could help is on turn overs. 

Long story short be prepared for a rundown property, quick closing (cash), and a full rehab. 

For instance, if you've determined that your max down payment ranges from 3.5% to 4%, ask yourself: do you have the 4% for the down payment plus an additional 3-4% for closing costs (Yes, be prepared to pay the closing cost for the acquisition of your properties) on a $1.3M property, at your disposal?

You may support your retirement dreams and financial objectives by building a profitable and long-lasting real estate portfolio with careful preparation and commitment.Good luck!

Be prepared to read a lot.My experience has been that they are sticklers for ADA accommodations, asbestos management, etc.

Hey BP Community,
I'm reaching out for some of your savvy insights as we navigate a potential market storm. My partners are feeling jittery about jumping into multi-unit properties (think 2-4 units) before a possible...