My previous renters were relocations - either had sold their home and looking to buy another (low inventory so takes a while to find a home to buy) or moving here from another city and didn't know yet what neighborhood they want to be in, or alse building a home and need a place to live until it's completed.

In Jersey City rent control only applies to older building that are 5 units or more not new construction.

So the goal of DSCR is now to figure out the best real estate cash flowing strategy to pair with DSCR loans as you scale your portfolio. anyone looking for help going DSCR, feel free to reach out as I build my portfolio with these and help investors scale theirs as a lender.

If there’s no response, consulting with a real estate attorney would be wise to determine how to terminate the agreement and recover unpaid rent.Once they’re ready to switch PMs, I can recommend some reputable property managers here in Indianapolis who are responsive and trustworthy.

It also requires different reporting of that separate interest expense on the K-1 each year so the partners know they have the obligation of tracing that interest expense to however the partner used the distributed proceeds.I typed all this up and realized Mr Brooks has left the building and posted this 6 months ago, but hopefully someone else will find this useful!

You’re absolutely right about the market potentially shifting, and this is where those who are ready to act and think creatively win big.

The appliances were left; however, it was a completely furnished, move-in-ready home, and they took everything including items bolted to the wall. 

Did you know the seller previously or did you have to build a rapport with them in order to do this?

Even if I am to not be taking home the lion's share of initial deals, I'd like to still be building some capital for future dealings.

I went from a W2 job to building a portfolio of 500+ units over the last 5 years by starting small and scaling smart.