And since there's no mortgage you might be able to find a modest rental close to you that will provide a positive return.It sounds like you are already under contract to sell your investment property.

You can bet on where you think the fed funds rate will be with Fed Funds futures contracts, and right now that market has the fed funds rate all the down to 3% by June 2025.

Construction skills, loan skills, financing skills, legal understanding, real estate transaction skills, etc all greatly help.Personally I wouldn't deal with someone that has no money, lacks experience, or some kind of resources. 

Update for Chicago investors : As of right now the ordinance takes effect 11/9 but any property under contract before then is exempt.

Assuming you have a one year contract with your realtor:Apart from the usual buyer representation commission, do you have any exclusive clause with your realtor?

**Lease and HAP Contract**: Once the property passes inspection, you can sign the lease with your tenant, and HUD will set up a Housing Assistance Payment (HAP) contract with you to begin rent payments.

Hopped up on the adrenaline of their first wholesaling seminar, they are sure they will have 100 deals in the hopper this weekend, but don't have money or an idea on how to structure a contract.

Im under contract and with closing set for 1 FEB.

Maybe this would also make it worthwhile to jump through the city hoops to make the basement a legal unit.Then you could maybe put a LTR in the basement who could assist with the STR in the main area.

@Bryn Chatterton screening applicants will be SUPER important.This is a copy-paste from our website, so ignore some of the specifics.Robust Tenant ScreeningA bad tenant can lead to thousands of dollars of losses via unpaid rents, legal fees and property damages.