Just make sure to fully understand the loan terms, especially the interest rate and repayment schedule, so there are no surprises.2.Condition of the Property: If the property isn’t in really rough shape and you were able to get insurance on it using a 4-point inspection and wind mitigation, you might even qualify for traditional funding options like FHA, Conventinal, VA, a cash-out refinance or a home equity line of credit (HELOC).

While an LLC can offer liability protection and tax benefits, it’s not essential for a single property—personal liability insurance and an umbrella policy may suffice for now.

I will give you my numbers since we are 3 years into Velocity Banking.Home was purchased at $410k.Interest rate: 3.125%30 year termMortgage payment is around $1950 (includes insurance and property tax)HELOC: 8.25% Variable rate - current rateCredit Limit: $97kLet's say I made $10k a month and our expenses were $6k each month including the mortgage.

And are insured properly.

Financing, pm, insurance, downpayment, etc.

In my home market of Florida, our insurance rates have made it much harder to have positive cash flow on a CRE deal.

., home office, health insurance).

Can you suggest an insurance company and contacts for our rental houses?

If you can rent it for enough to cover the principal, interest, taxes and insurance and still put money in your pocket, plus cash flow on the property you're purchasing, that would be ideal.

My partner and I keep an excel spreadsheet of rent, our purchases, utilities, taxes, insurance, and money spent on contractors.