Initial Equity: The discount you achieve when buying below market value.

Nc contracts require 60 days notice during the initial lease term. 30 days if the contract is month-to-month. 

Good afternoon Jaycee, 6 make up the equity and they are currently under my name due to some past Refi's.I have actually proposed selling the trucking company to one of my drivers or at least giving him a percentage to recoup some of my initial investment.

You’d have to pay $35,00 PLUS $3,500/mo (That’s ANOTHER $42k!)

I'll make sure to spend the initial deals learning and asking questions to gain practical insights.

Initially I really wanted to do a STR down in North Padre Texas (as it is a place I have vacationed for years and have stayed in at least 8-10 of the STR in the exact complex im looking into, I see how my STR could stand out amongst the rest since Im huge fisherman down there and that is mainly what those STR are used as, already have boat rental option setup if I go this route, list of fishing and possible guides to go with depending on style of fishing, family, fun, hardcore wade fisherman etc etc and equipment rental available for those that do not have.), the places im looking at are decent $ properties that after running through calculators etc showing 18-22% CoC after management fees etc.But after listening to BP for about a month, now thinking BRRRR possibly and doing up here in the DFW area.

You can use a SQ FT format to guess rehab but that is only good to initially look at a deal.

Maybe I’m wrong but I had to do that on our STR (Ring) and Wyze also requires close proximity on initial setup.

You are not even scooping your initial investment so your cash on cash return is negative.

If you go the rehab route, you can refinance when finished with the work into a DSCR loan to get all/most of you initial investment back if you found a good deal.