The tenants may not like the timelines or outcomes of the repairs - part is on back order, they have to pay for the repair due to abuse, the owner chooses to repair instead of replacing.

It's current tenants are not students but my plan is to replace the tenants with students within the year after purchase.  

@Aaron Nelson sounds like our team was able to connect with you, but if you ever need assistance always feel free to reach out to [email protected] and anyone on that team can help.

I would say today 40-50% of your income goes towards normal operating expenses. 50% if you want to include replacement reserves which you should.

that was 7 years ago though and inventory is much tighter now.yes on auctions - you often have to buy with incomplete or incorrect information, and so just very tough to do as your first or second deal.it sounds like you're doing some of the right things in terms of starting to build a network, but it's just very tough to act when you need to when you're out of state. 

I'd keep this property and casually search for a replacement- when something looks interesting you could always consider a 1031. 

House Hacking sounds like a great idea to me and I'd love to go that route.

Hey @Liz Zack I will start off by saying that I am not an attorney and this is not legal advice.I do not know all of the details here, but it sounds like you are going direct to seller on this deal.

.$4300 in origination fees on $283k is 1.5% for a commercial loan - sounds about right, maybe a bit high. 1% is mostly the norm.

It sounds like you’re setting up a solid foundation for your investment journey.