Every investor has a different approach, but I personally buy my rentals the same way I buy my flips..at a deep discount using hard/private money, then refinance with a rate-and-term loan to secure a lowest interest rate.Ultimately, it comes down to your goals, risk tolerance, and ability to find value-add opportunities.

If you have any more questions or think you'll need help securing funding for any future projects, feel free to DM me.

You will realize the loss for tax purposes when you sell the security, which it sounds like will happen in 2025.

I guarantee you are more likely to secure favorable terms if the seller likes you and can imagine you as a great operator for the business.

So even though you have a compounding loan balance, 100% of the cash value, securing the loans is also growing and compounding.

If he is not paying then file an eviction.

Neal and Jean-Marc were supposed to secure construction funds.

Partnering with family and securing owner financing to acquire the property below asking price was a smart move, and the renovations sound like they added significant value.As a direct lender, I’d love to explore how we might assist with your future growth, especially as you look to scale into larger multi-family investments.

As @Tom S.eluded, I wouldn't be surprised if there are major issues to be uncovered.In addition to construction costs, there will be additional filing fees and architect/engineer expenses.I'd be happy to recommend a contractor, shooting you a DM now.Best,Abel

Once you’ve built capital, transition to small multifamily units using DSCR loans for steady cash flow.If you need help analyzing deals or securing funding, let me know.