Plus, I'd prefer to take baby steps before investing out of state where I could better afford a 25% down-payment.

Many lenders will not want to step in when the project is partially done.

1st step is to make sure that the electricity is rated for having electric heat by the electric company.

Every state has a slightly different process, and time frame for each step, so you may want to consult a Realtor for your state process.

I appreciate you listing the steps you took / people you went to in order to fill the gaps.

After 6 months I have two properties and since day 1 they have been rented.However, making some numbers and organizing the 2025 budget I am not sure what to think about my first step on this journey.The rent covers the mortgages (10 year loan both) however I have to take out of my pocket some % to cover HOA and management fee.

But if the property has been sitting, you might want to take a step back and reassess:•Is the price competitive?

.✅ This avoids wasting time screening unqualified tenants.3) Before Lease Signing (Final Step)✅ Run the background check before approving the tenant, so you can verify:Credit history & income stability Eviction & rental historyCriminal background (if applicable in your state)Final ThoughtThe best time is after the showing but before lease approval—this ensures you’re only screening serious applicants while minimizing wasted time and costs.

My chief complaint is the lack of communication and an actual project management plan... thats good news I know some lenders get pretty concerned when construction is so slow.. but sounds like a great deal and I know RTR will be there every step for you guys.. did not realize they were the conduit for this transaction.

What should be the number first step after picking a market?