That takes a little time to develop those resources - but they naturally come with experience.

The exact steps depend on the nature of the defaulted debts and on your local laws.State income tax planning.

This will give you a clear idea of what the house might be missing, and or need and gives you time to make those changes/additions before your first group.Another tip: I think it is natural for bigger properties to have more vacancies during the week/slow season.

This purchase will be up ~1m over purchase price after this rehab is done (3 sources: 1) purchase below value (or value add from addressing the rent issues - depends on your perspective) 2) value add from 4 class b+ unit rehabs 3) natural appreciation).  

And better yet 80%+ of this asset class tenants are home owners by nature, divorcee's in process, there living standards are home-owner conditioned. 

Its just kind of the nature of the beast and investing were over 50% of all homes are rentals its a different lifestyle than what we are used to at least on the west coast were maybe 10% of SFR's are rentals  renters rent apartments.

It seemed a natural fit for me since I always wanted to be a businessman but still had a 9 to 5.

And they did it for years before my family bought that ranch.Many my age born in the 50s we did work in Ag in the 60s  I lived in Cupertino CA and I cut Cotts in the summer.. thats splitting apricots in half and laying them on a big wooden board to then dry naturally in the sun out doors.. hard to find REAL dried apricots these days U can still find them in Trader Joes though.. 

Given the nature of small towns, we have personal relationships with multiple members of the board which we believe positions us well for success but of course there is still uncertainty.

Without knowing the nature of your partnerships it’s tough to say specifically.