Individuals who bought real estate during a recession have seen their property values and cash flow nearly triple. #2 avoid sowing seeds of failure in the good times - Many investors fail due to investing in prosperous markets.

A close friend of mine worked with a client who snagged a few acres just outside of town near the North Platte River.. it didn’t show up on the usual listings, but popped up through a local contact who’d been hinting at a seller looking to keep things quiet.You mentioned it’ll be a three-year timeline.. that’s actually not a bad window.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

If you have a 6 bedroom in an area that does not have a university (students looking for shared space) or is in a family friendly place it may sit vacant longer between tenants.For Capex, try not to use a generic number - look at the roof, furnace, hot water tank, kitchen - when will each need to be done and what will it cost?

One of the most important skills you didn't mention is networking, which you are obviously doing well at too.I'd recommend connecting 1:1 (zoom, coffee. lunch, etc.) with a couple from the BP Chicago community or better yet check out some of the local meetups: https://www.biggerpockets.com/forums/521-real-estate-events-...Make friends with the meetup hosts...they will often know whos who and can help you make the right connections.Regarding your license, I think it's a great idea if you have the time and are going at it with the right intentions. 

I have a friend in Louisiana that's crushing it and may be a good resource for you.

Would like to have a "friend of a friend" renter so I have an idea of whom I'm getting.

California is certainly not landlord friendly, as you have already eluded to.

We recently did a loan involving a borrower with a mind-numbing operating agreement involving nested LLCs, retirement plans, and individuals. 

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