Hi everyone,
I’m a new investor learning the ropes of being a midterm landlord. I bought an outdated condo, planning to do a cosmetic rehab later when I had more budget.

I moved out of the condo in mid-2024 for a ...

On the flip side, traditional financing typically offers better rates and longer terms but can take longer to close, and you’ll likely need stronger financials.If you’re trying to balance speed with cost-efficiency, it’s worth considering your project’s needs and how quickly you need to get funding.

It was also difficult to assess the heating situation after repairs since tenant refused to provide key to access unit for repairs and/emergencies, citing “privacy and safety” concerns.

I would definitely factor in some substantial capex/ maintenance and repair costs which could lower your returns.  

However, one tenant isn’t paying rent, and it looks like I might have to go through the eviction process.When evaluating a rental property, do you typically use the 1% rule?

Passive investors are typically not at conferences either.

Personally, If I could pull out a HELOC, I would use it to fix and flip which will typically make sense as you shouldnt be keeping the money out for that long and you can recycle it or pay it back and build off the capital that you got from. the flip.

These properties typically do not have rent growth that keeps up with inflation.  

So if you see a foreclosure, it's not a typical thing, and the people involved are not typical. 

Sellers can avoid paying transfer taxes to the county, while buyers are spared from facing significant property tax increases.However, it's important to note that lenders typically only approve these loans for properties with five or more units.