It’s important to ensure you’re comfortable with these risks and consult a financial advisor.If you choose to use a HELOC, consider traditional financing or private loans as alternatives if you prefer not to risk your home.As for your first rental, markets in the Midwest and Southeast offer great opportunities with turnkey properties that are tenant-ready and appreciating.

our first baby is officially on the market and i have mix emotions but more happy because im excited for the next chapter !

if i am going to be ~$600/month negative, it would need to be a market that has rent growth far greater than inflation.good luck 

However, they approach financial health from different angles.The 50% Rule is a quick estimate that suggests operating expenses (excluding mortgage principal and interest) will roughly equal 50% of the property's gross income.The DSCR is a more precise calculation (Net Operating Income / Total Debt Service) that determines if a property generates enough income to cover its debt obligations.Deal example:- Class C middle class neighborhood- 4bd / 2ba single family house- ARV: 190k- Purchase: 105k- Rehab: 35k- Market rent: $1,400-1,525- Section 8: $1,475- Property manager: 10%- Taxes: 125 month- Insurance $1250 yr- HOA: $55 month- purchased and rehabbed with all cash.

I’m brainstorming ideas on how I can market myself to potential mentors in the STR game in order to gain experience.

Can you please share any information on properties or markets where you are that can help guide my search?

Each REI investor will have definitely grown either in knowledge, experience, or current market situations since their last podcast.I view the BP Forum posters as the free/easy entry into BP product lines. 

This is one area where it helps tremendously to have per-existing relationships with people in the industry such as family or friends.

We are in Sub-markets, which have led us to having a very small general contracting pool and can't find any contractors to keep up with demand.

Any advice on starting out on this in the Houston or Katy market?