So, you go over budget FAST.So, your Scope of Work (SOW) MUST be very specific as Mr Perez learned when contractor didn't put in new outlets.To "perfect" your SOW, suggest you walk the property with 3 contractors and ask them what needs to be done.

Purchase price: $165,000 Cash invested: $35,000 That's right.

Just keep in mind that using that emergency fund to buy your next property and having tapped a HELOC already may leave you in a bad spot if you run into a similar problem again.Also, I’m not 100% sure, but I have heard that personal loans don’t your credit more so than other types of debt so be sure you look into that if you go the personal loans route and then planned to finance your next purchase soon after.

My biggest advice for people would be as follows.Know why your in the real estate game, and why a specific niche.

I also am very interested in purchasing more STRs, and this is a really low risk way to see if I'm up for it (we have a 2.9% interest rate on our mortgage).My biggest concern is an ongoing plumbing issue we have had.

I have a goal of purchasing a small multifamily this year, so I want to start making the steps to make that happen.

I have a very nice friend who wants to lend me money to purchase a property with no interest.Will I have to pay taxes on the private money loan?

I'm currently planning to purchase a commercial multifamily building in Chicago with the proceeds of a 1031 exchange.

Specifically, where are the opportunities and how do you spot them? 

I like to stay in the working class areas as they make enough to pay the rent and bills, but don't have the financial discipline to save enough to purchase their own home.