@Sam McCormackCongratulations on becoming an investor and securing your first property in Northern Kentucky.

The current owner has worked in the business since 1981, and owned it since 2007.Key features:- $25k minimum investment- 4 year timeline, projected annual IRR 35% and equity multiple 3.12- adjacent to public transport, in a suburb where there is both housing demand and limited supply.- operator has built and filled a similar development nearby- You can find pictures and numbers on some of the buildings they have built and are building here (https://lnkd.in/gfbdvtnf).- You can find a profit calculator spreadsheet here (https://lnkd.in/g-2m_vZA).

Getting pre-approved gives you a serious edge in securing deals faster.

The partner with good credit secures financing and handles financial management, while the rehab expert oversees renovation and project execution.

Pros to my current position: Secure, w2, pay is above average, benefits are stellar, schedule is somewhat flexible (can leave if I need to without penalty; vacation when I want - utilizing banked time on both), 3 miles from home, and hopefully a pension in 17 years. 

Risk Management: Securing enough funding to cover unexpected expenses during the renovation is a challenge.

The information is provided in 'how to get your security deposit back at the end of your lease' language.  

And that gave us a feeling of security that allowed us to take "riskier" bets.

Finding DSCR lenders willing to take a second position can be challenging, as many prefer the security of being in the first lien position.

The state doesn’t have rent control laws, but landlords are prohibited from collecting more than one month’s rent for security deposits.