He's very thorough with this standard inspections and he also offers "investor due diligence" inspections at a reduced rate.

Recently, I was debating whether to lock in the mortgage rate for a single-family home we're purchasing in December, especially with rates spiking recently, or wait until after the next Fed meeting and election to be finalized.

Another trick is know how to run vacancy rate by area.

The other catch is the high interest rates today and doing a refi will be expensive.

Because it is mostly cosmetic, the cost to remodel isn't horrible but you can still get the properties at a discounted rate.

(If they are an adult you should have already done a background check on them.) you could also renew them at the higher rate on a MTM term in case the payment issues continue.

After literally years of looking (since 2022) I bought my first property a few months ago, so I feel extremely qualified to give advice (many people earned lots of equity during the pandemic appreciation-boom if they bought before 2022, but out-of-state investors getting started AFTER the 2022 interest rate hikes are few and far between). 

So just curious if my number formula is correct $15k down plus $15k Reno = $30k rental income/year  $14500 vacancy rate 2% operating expensive 35% ( to cover condo fees maintenance insurance ect) $5500 a year mortgage so roughly a 12.25% cash on cash return ? 

The loan rate is about to adjust to 6.9% which is more than double what it currently is, making the property in the negative for monthly cash flow.   

Financing- build a relationship with a regional banker, don’t shop for interest rates, start small and build history and loyalty they are your team, Cross collateralize, deposit CD/MM or custodial account with bank for loan, give them monthly updates, nail your deal analysis, do stress tests on your deal analysis-cost/interest rate/deal length/ sale price etc. 12.