Now our “leadership” at the National Association of Realtors has proven just as feckless and ineffective as the vast majority of its membership.

While I don’t need the funds immediately, selling would allow reinvestment in hard money loans at 10% or a similar real estate deal.My main concern is tenant turnover, potential repairs, and the costs associated with re-leasing making my return even less. 

Hey @LaShanti Penn      I would suggest connecting with more local investors and maybe joining the local Charlotte chapter on the North Carolina Real Estate Investor Association.

Things to look out for----Ask a lender what your potential interest rate is going to be and what lender fees are associated with this rate (underwriting fees, points whether they be origination or discount). 

I'm forming a Real Estate Investor Association in Lafayette, IN.

One of these "friends" never left the condo and lived there for 5 months payment free while the neighbor was paying all dues on time to avoid lawsuit against him from the association and management.

how about costs associated with a renovation or repair needed?

This criteria is for 1-4 and 5-8 unit programs.I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

Host of the biggest and longest meeting real estate investor association in the Kansas City Metro, kinda not a Meetup - we have meetings but we have so much more.Join us on April 9th for our Next Meeting - find out what investors miss on inspections - our working title Don't Get Screwed by Missed Inspection Items on your Next Investment.  

With the outlined steps and strategies, you can overcome the fear and stress associated with finding tenants for your house hack.