I would have never dreamed of being a new home builder 15 years ago.

You have the mortgage, taxes, insurance, maintenance, capital expenditures (roof, flooring, etc.), and also need to consider the cost of vacancies or bad tenants.I also recommend you charge market rate, for yourself and the tenant.

It's a shame, the home is a great home to live in with potential. ( Side note, the seller only wants land value.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.- Maintain proper records, such as contracts, settlement statements, and promissory notes.

I have experience investing (own 2 STRs and an assisted living home+business).

1st, lets talk about equity in your homes.

Quote from @Chris Seveney: @Jay HinrichsGreat points - yes many are from here on BP such as a bearded guy, a guy who threatened to sue a LP and still doesn’t respond according to his investors, two other “note funds” one investing in skidrow homes and the other in broadway plays….

Example - borrower uses loan to purchase a home in a B or C grade neighborhood for 380k, spends 50k rehabbing primary home, uses 200k to put an ADU in the back, appraisal comes back at 925k. 

We dont show homes without an ID.

I recently bought my first rental property, it is just a little manufactured home down in Yuma Arizona.