So it can be a bit tricky to do it this way, but ultimately, requiring that hold deposit will let you eliminate the risk of a tire kicker no showing on you when it comes to pay and you've already told everyone the house is rented.I believe you dodged a bullet there...My question for you, Mike, is what paperwork have they signed at the time that they are giving you the hold deposit?

Write in paragraph form, rather than using numbered/bullet points2.

Ensure the DSCR calculations work with the high LTV and your credit score, especially if the lender won't use MTR or STR income.Lender Criteria: Some lenders won't work with new operators, some only use market rent, and others will use STR estimates or income statements from property managers with similar properties.I hop the bullet points make it easier to understand.

Once you always have a few bullets in the chamber - figure a deal may require 25k - 40k in liquidity during its lifecycle - so once you have a few bullets in the chamber then you can start looking for those 2 - 4 buildings that cashflow well. 

43608 is rough and out of hundreds of deals we have done over the last 10 years, never touched 43608.Only a few streets are decent but even then, I wouldn't buy in the area.It's the "bang on doors with a shot gun and bullet proof vest" type property management style heheEach to their own tho.43609 is decent but can also be a hit and a miss so will depend on the exact pocket.Wishing you much successThanks for the update on the area.

There is no magic bullet or one size shoe fits all.

Because most want a magic bullet without taking action and the results are the same.  

As far as replacing your current interest rates of 3.5-4.5%, that is a bullet you would have to bite to pursue access to equity.

Hello all!I've been haunting BP since 2019 but finally went Pro. My biggest regret is not signing up to get locked into 20% off annually. I toed the line every week, each time putting the membership in cart. I even to...

Moving in 4 years and not sure if I should just reline the flue and hope the furnace lasts until we sell; bite the bullet and replace the furnace with a heat pump; or reline the flue and replace with another oil furnace.