I’m thrilled to announce that I just closed on my first investment property within one week of joining the BP community!

Think through why you even want to invest in real estate in the first place.

It is difficult to schedule a time for the Potential tenant and the current tenant and often is after hours.

Ask your employer if you can have your pay split up into three deposits, one to investments savings, one to your checking account for personal use on a daily basis, and one to an emergency account you can tap into so you don't have to tap into your investment savings.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

With a bit of planning and good operations, one can easily manage 20 to 30 properties without an assistant, with less than a day or two a month.There's lots of automated ways to check on rent, make deposits (my tenants deposit directly into a bank account), receive maintenance requests, have maintenance done, etc., etc.One thing I could argue is to have your tenants ONLY email you, especially for maintenance requests, and that email goes directly to the vendor that you have set up to handle it.

Purchase price: $88,000 Cash invested: $25,000 Sale price: $179,900 I got this deal from an agent who was initially going to list it publicly but thought of me first.

This may result in late fees and eventual eviction if not cured within the legally provided time. 

If you are looking for more cash flow, the first option would work best. 

I was under the impression that FHA is first time home buyers.