My husband and I did about a year and a half of college before moving up to KS.

But in the South contract for deeds are not liked by the RE attorneies, where up north CFD has state statute validity (which states?). 

Bonus Tip: If this quadruplex is out of state, I’d highly recommend building a reliable local team (cleaners, handymen, etc.) and maybe consider hiring a co-host or VA to help with day-to-day tasks, especially if you scale up. 

Which brings up another issue, you must give your tenant the First Right of Refusal when you want to sell.

Ended up moving and renting as a LTR> cash-flow play. 

But you'll need to get permits before the last 1,000 or so are used up, after that no more permits will be given out. 

I’d suggest focusing on securing solid DSCR loans—like those from thelender.com, which lends up to 80% LTV, considers STR income, and operates as a direct lender.

Also, consider financing strategies that allow you to maximize leverage instead of tying up all your HELOC funds in one deal.If you want to run numbers on different financing options, let me know.

Understand the neighborhood and understand what makes a house go up in value and what just makes a house livable. 

Some tenants ask up front if I'm going to charge them an application fee.