Non-recourse has less personal exposure, but you need a very strong balance sheet to secure this without bringing in a KP.

I mean you technically require a permit to replace an outlet or sink faucet hahaha

It saved me when things got real (hello, crazy boyfriend with trust issues).Security Deposit: Non-NegotiableOne full month of rent as a security deposit (at the very least!)

Legal Protection – It's important to have a solid contract in place, typically a promissory note and a security agreement that outlines the loan terms, interest rates, repayment schedules, and collateral (often the property being financed).

I do not have the capital for the property to pitch in, so I plan to use the investors money to secure the property.The interest rate that I will pay the investor is 5% for up to a duration of 20 years.

So when you hire that able handyman and give him keys to all of the apartments and the security codes without learning that he is 90 days out of prison for breaking and entering and committing assault and kidnapping your umbrella coverage may not help.And, these days, a million dollars of coverage will deal with the contents of a small truck that you sideswipe and it bounces around a little with the electronics inside.

I position my inspections as 'planning for future repairs/improvements' which mitigates that whole 'he's here to get my security deposit' mindset.And, I would rather have the tenant with me than to have him later claim that something was broken during the inspection.  

It’s a smart way to dip your toes into investing while securing your first home.You’re not being too ambitious at all!

Not that it really matters.No institutional lender will give someone a loan that doesn't have:1) Credit history2) A social security number3) Income3) Employment historyYou'll want to research Wholesaling and Land Contracts.

Our lease contains a clause stating the security deposit cannot be used for the last month's rent. 3.