Your financial background is a huge asset, and it’s great that you’re starting locally in Milwaukee while keeping an eye on future expansion.If you’re looking to connect with like-minded investors, the Rental Property Association of Wisconsin is a fantastic resource for networking with rental portfolio owners, accessing legal resources, and finding contractors. https://www.aasew.org/For mentors, funding sources, and flippers, the Milwaukee REIA is another great group to explore. https://www.milwaukeereia.com/I’m a member of both and find unique value in each—maybe we’ll cross paths at a future meeting!

With a recast, my monthly payment could drop, improving cash flow.3.

This will allow you to mitigate risk on the first property but also allow you to do a cash out refi on the second, so now you have access to tax free cash that you can do with whatever you please.

Line of Credits (like HELOCS) allows access to a set amount of money up to a pre-determined limit and it is revolving.

The only other option that comes to mind is to make the improvements and try to achieve favorable rental rates to push the story that 2 BR homes rent for a premium because its unique.

Legal height 8ft.Had to add public access to electric disconnects as well.made me add two window in the basement too.Really just need to get an architect who is self certified.

@John BarryFirst and foremost, Section 8 is a protected class in Massachusetts, so you can not discriminate against any tenant that has it.As for the steps.1. list and show the unit as usual.2. validate all tenants the same way.3. if you go with a section 8 tenant, then they will have paperwork for you to complete/submit.4. section 8 will send out an inspector to check the unit, all common areas, the exterior and the basement (does not matter if they have access to it or not).5.

I suggest focusing on properties that need cosmetic work in order to reduce overall risk, while keeping access to a good ARV.

I had access to a legal and compliance team to assist in doing such, as well as my background in contract law.

I'm curious as what y'all consider to be the minimum criteria for approving a tenant, assuming you don't have access to professional tools.