For your first BRRRR, plan for extra in your rehab budget—unexpected costs happen.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

Quote from @Chris Seveney: Quote from @Devin James: In 2021, we saw buyers upgrading to larger homes, taking advantage of 3% interest rates to afford an extra 300+ square feet.Today, smaller homes are selling much faster as higher rates make additional square footage less affordable.While rates are historically average, I don’t see them dropping significantly.

Some of this may have been grandfathered in, but now need updating.I would pay the extra say $50,000 to have an Engineer firm go over.

Most investors let the tenants pay down the mortgage and use extra money for their down payment on their next rental.  

They provide everything the larger platforms do—and honestly, they have some extra options that others lack.

Early on in my career, I saw a close frend do something similar.. she borrowed from her circle to finance a rural fixer-upper, then paid them back once she refinanced after the rehab.I’m guessing that massive yard plus the barn is already a big selling point for your tenant, especially with a family that wants a little extra room for animals.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

I would have to get with the property manager and mimic the exact plans they have set up in the lease, all of which were probably customized by the PM to get a few extra dollars.  

Eventually, I realized that if I kept waiting until tax time to organize my books, I would never escape the stress (and extra CPA fees).