For a first time investor, I definitely recommend house hacking for most people as homeowner loans are by far the best in terms of rate and LTV. 

With the right tax strategy, you can maximize deductions and reduce liabilities, while having the right insurance and reserves in place will protect you from unexpected costs.By Implementing a quarterly financial review to assess performance and make adjustments to avoid cash shortfalls.

There will be no assessment for increase in taxes or insurance so remains at $1935.

But almost all homeowners and most investors do inspections after getting a property under contract. 

(gross rents $4900; 8% PM; mortgage+insur+taxes = $3600/mo).

The cashflow should cove ALL of the expenses for the primary (mortgage, taxes, insurance, utilities, etc) AND put money in their pocket.

Hello everyone, I am reaching out to the BP Community for suggestions.My Portfolio100% owner of 7 SFH PropertiesGP in about 30 SFH properties(of which I own somewhere between 25% to 50%)All but two properties are managed by a PM CompanyNet worth of the above is about $2,000,000 - $2,500,000My IssuesI have many SFH's - Which take up time(Currently spending time paying property tax and insurance, requesting quotes on insurance policies and overseeing the PM Company(approve rent increases, approve renovation projects, etc).They also take up head-space(having to remember property addresses, remembering when property taxes are due)(I have reminders/systems but something I would like to reduce)Goals1) Spend less time on Real Estate2) Free up head-space2) Make $240,000 annually from real estate(Which I think is not to hard if I can increase my net worth and can get an 8% return)Possible Solutions1) Sell all the SFH's and buy 4-Unit Properties to take advantage of conventional financing2) Sell all the SFH's and buy one large apartment complex3) Sell al the SFH's and invest in syndications4) Sell all the SFH's and purchase stock / bonds5) Continue to hold all the SFH's6) Any other suggestionsOther Considations1) Should I consider private notes?

New construction properties can qualify for significant insurance discounts, but otherwise, I generally expect insurance in this area to run a little over 1% of the property’s value if it’s in decent condition.Feel free to DM me if you’d like a good insurance contact to shop around for a better rate.

I feel sorry for the people losing everything in the fires , insurance will go up .But I wish I was the guy  driving this bulldozer ;t=162s

Homeowner filed chp 7.