I passed this additional charge onto our borrowers without any objections, making the total doc fee $1000.There are other companies that provide automated loan docs.

It took me 10 years and I had the benefit of starting when RE was cheap.A business has literally the opposite character: it's primary strength is cash flow.

Understand the basics of private lendingResearch real estate marketsDetermine your investment strategy and criteria for loans, including:- Amounts- Interest rates- Repayment termsCreate legal documents with a lawyerNetwork with real estate professionalsPerform due diligence on potential borrowers and their projectsBegin with smaller loans to gain experienceMonitor your investments closelyConsider joining a private lending group for additional resourcesStay informed about real estate trends, lending practices, and legal regulations

Also, Investors need to be prepared for and understand if there are additional costs that come with foreclosures, such as water bills, and potential fines for property upkeep.

(This is why most IRA accounts use the initial FBO "for the benefit of") That is why you can't easily get to the money and have to pay taxes upon withdrawing it.So, if you invested in real estate, and created some cash flow, the money MUST go back to the custodian and the IRA.  

But you could say something along the lines of this in your lease;"If the monthly gas bill exceeds $X or the water bill exceeds $Y, the tenant will reimburse the landlord for the difference as an additional charge."

It's a whole other thread to get into but do some research on the issues with commercial real estate, Ben Mallah is a recent high-profile additional person to come out publicly on this and who is putting his $ where his mouth is. 

You have less control with a property like this when compared to other asset classes.The upside here is that it seems there is room for negotiation because of the below-market rent tenants.If you're looking to put down $200-250K, I would recommend looking into a multifamily property, especially one with additional income potential. 

Effective  12/1/2024 @ 12:01a the Louisville rental registry requires the 16 page Lead Hazard Evaluation form in addition to the Affidavit of Compliance.

It is important to factor in all the benefits of house hacking into your calculations, i.e. amortization, appreciation, income, & potential rent avoidance.