Given that the house is paid off but has $27K in back taxes, you could offer to cover those taxes upfront in exchange for favorable terms on the remaining balance—like low (or no) down payment, and small monthly payments.You could also negotiate for a subject-to deal where you take over the property subject to the taxes, while still securing control of the property for your BRRRR strategy.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

A mid-term rental near a major hospital could bring in $1,800–$2,200/month, covering a larger part of your mortgage than a long-term rental. 2.

fha. 3.8% interest and Currently owe 450kMortgage $3,400.00Currently we are renting home out for $2,400 and taking a lossLiving in an apartment for $1700 making total living cost $2700 with the 1k for covering loss on home Household income 180k-200k Please help me figure out what makes the most sense in this situation.

If the taxes were increased and the escrows that were collected up to that point were insufficient to cover the new tax bill, then your future mortgage payment will increase by an amount that will cover the new tax bill AND make up for the shortage from the previous payment.

Thank you @Greg O'BrienI found this one, not sure if is the one you are talking about but it specifically says that not because a rental is considered active it means that it is subject to Self Employment tax: Memo 202151005

He specifically mentions ”make sure you do not provide substantial services so that you report the STR rental income on schedule E not C and so you are not subject to 15% self employment tax“

I had to put about 25k of my own money into this first deal between the down payment, agent commission, inspection, closing costs, and holding costs, so I'd like to get as much of that covered as I can on my next deal.

I’d suggest drafting a solid agreement upfront that covers everything—ownership percentage, costs (mortgage, repairs, utilities), how profit is split, and even exit strategies if one of you wants out.

A property may look good on paper in terms of appreciation but might not generate enough cash flow to cover expenses and build long-term wealth.Not Having a Backup Plan:If something goes wrong in any phase, such as a longer vacancy period or higher renovation costs, it can disrupt the whole strategy.