Get rid of debt, build a budget, and save.

I want to do things the right way, but feel the pressure of a tight budget that will get drained considerably by the permit fee and multiple inspection fees. 

Get rid of debt, build a budget, and save.

I have flipped 2 homes to keep the family budget where needed but hold and long-term growth is my one true focus.  

@Penny Pells DM your budget and such. 

Budgeting for maintenance is key, and factoring these costs into your investment analysis is crucial.Expenses and Cash Flow:There are definitely various ongoing costs associated with real estate ownership.

These markets provide budget-friendly housing options for single-family homes, small multifamily properties, and rental properties.

Here are some of the responsibilities.Financial Management:Overseeing the HOA's budget and financesCollecting dues and managing delinquenciesMaintaining financial records and generating reportsCommunication and Administration:Acting as a liaison between the HOA board and residentsDisseminating information through newsletters and noticesResponding to homeowner inquiries and concernsScheduling and facilitating HOA board meetingsMaintaining the Community:Overseeing maintenance and repairs of common areasEnforcing the HOA's Covenants, Conditions, and Restrictions (CC&Rs)Managing vendors and ensuring adherence to contractsSupervising common areas like pools, gyms, and landscapingOther Responsibilities:Planning and organizing community eventsHelping to resolve disputes among residentsStaying compliant with local and state lawsThe PM doesn't go on-site is very weird, it's called Property Manager for a reason, to oversee the property. 

In the first stage of this process, you must underwrite it to ascertain its highest and best use and financial performance.Conducting this analysis sets the stage for securing a purchase contract with terms and conditions aligned with the timing and budget of the planned project.

If you miss renting to students around August 1 or before, you may wait a long time.Also college students tend to be pretty rough on wear and tear of the homes, so you want to budget for that.