We've invested around $50,000 in improvements (central air and hardscaping) and our mortgage is a 30-year fixed at 2.5%, with a PITI of $2400.We think it could rent for $3,750 - $4,000 per month based on local comps.

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

What I'm aiming for are turnkey rentals and trying to max out the amount of conventional, lower interest loans. again, the DTI income ratio will be IMPROVED if the property shows cash flow.

If there is minor rehab (such as painting and cosmetic improvements) you can still close on a DSCR loan, however it may affect your appraised value, which could also affect your market rent if its a vacant property.

Repairs made while the property is your primary residence are not deductible, but improvements can increase your cost basis, reducing future capital gains tax when you sell.

Prepare financially by saving for down payments, improving your credit score, and setting aside emergency reserves.

Contrary to most business lending, the REI industry has a lot of "non-bank" lenders that provide attractive loans that can lower your cost of capital and improve your profit/cash flow. 

Look at their finishes and what they offer guests, use that as your baseline, then improve upon it.

Your aim starting out should be to get the best reviews as possible and use guest feedback to make improvements as you go.

My plan for this year is improve my credit, get my real estate license (to increase my income on top of my W-2), possibly career transition into the property management space (to learn more), and save as much as possible and learn as much as I can.I’d love to house hack close to home but my area is so expensive it seems like it’d be close to impossible.