I net about 3.5-5k a month(depending on airbnb) after all expenses including my primary residence and utilities there.I have built up a good amount of equity in the houses due to the renos I've done mostly myself and also from buying low during covid.

Since you won’t be managing this yourself, clarify upfront if the GC’s fee includes coordinating subcontractors, pulling permits (if needed), and handling inspections. 2.

Next steps include analyzing deals, connecting locally, and studying financing options.Good luck!

Anthony,Per my previous numerous communications, JBS is in the process of finalizing all accounts including yours.

Biggest lesson here for everyone is NOT to include utilities EVER!!!!!

Although, I completed several gut renovations including garage conversions, in the past, I recognize that this is a different beast.

If I were in your shoes (which I was recently, and will be again when I move to the next property), I would call up 10 different lenders including small banks, credit unions, etc. and tell them your situation, what you are trying to do, and how they might be able to provide a product to support you. 

Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

Meaning, if you take the money only, you would have depreciation recapture from your cost basis up to the original purchase price of the building (not including the land cost because it wasn't depreciable), plus a capital gain up to the insurance proceeds.Hope this makes sense.