Also, Investors need to be prepared for and understand if there are additional costs that come with foreclosures, such as water bills, and potential fines for property upkeep.

This policy will provide additional coverage above what your existing policy covers.

I would highly recommend joining some of the many meetups and networking events in Austin for real estate investors, very valuable exchanges of ideas in person as well

You have less control with a property like this when compared to other asset classes.The upside here is that it seems there is room for negotiation because of the below-market rent tenants.If you're looking to put down $200-250K, I would recommend looking into a multifamily property, especially one with additional income potential. 

Increased Approval Chances: Borrowers with multiple valuable assets may have a better chance of loan approval, as lenders see reduced risk in cross-collateralized loans.5.

Effective  12/1/2024 @ 12:01a the Louisville rental registry requires the 16 page Lead Hazard Evaluation form in addition to the Affidavit of Compliance.

If so, you may choose to simply add it to the lease as being damaged at move-in so the tenant doesn't get charged for it when they leave.

So for the dollar amount, returns, and additional risk I decided to just focus more on my day job.

You can - 1) establish a trust for asset protection, 2) utilize the Homestead Exemption for property protection, 3) consider tenancy by the entirety for marital property (this might just be applicable to California, my home state)4) make sure you have adequate liability insurance for additional protection, 5) think about forming a business entity to shield assets, 6) and have proper estate planning for asset distribution.Seek tax and legal advice from experts in your state.

I have landlord insurance but wanted to get an umbrella policy for additional protection.