I did go with the Virtual Realty Group and just received my first commission.  75%, not bad. 

This is where you can lean on a reliable agent to prevent you from buying bad deals but I would also make sure you do enough research before making offers. 

It reduces the quality of the property for long-term tenants, introduces risk, and could potentially make the leasing desk look bad in front of their bosses.

I remember in the 80's when my high school Geography teacher would try to scare us to death, saying that the pollution in LA and New York were so bad that people would die.   

That is not a bad suggestion thank you Jensen. 

Hey @Jim Vani - No problem...I think oftentimes people who create courses or provide mentorship-type programs like @Andrew Holmes get a bad rap, but often the people who are criticizing them are the people who aren't taking action or are not happy with their results.I am actually not going to BPCon2023 because I have another event in Atlanta during the same week...I think next year I'll be there for sure.Regardless, of BPcon, I'd be happy to connect...we are both in Chicago and contractors...I always looking to learn from others who have been doing the industry.

If you are buying a turn key and do not expect to take cash out for a few years just gauge that on your prepayment penalty years.Rates vary depending on credit scores, LTV, DSCR ratio, Loan amount, Property type, number of units.Good news is rates have been dropping so DSCR may not be a bad option if you buy and simply refinance in 12-24 months.

. ;-) So, what happens if the deal/loan goes bad?

If you raise an extra $500k you should have $2k/mo in cash flow, still bad but at least it’s positive. 

A: Landlord has an obligation to provide clean water, suck it up and buy it.B: Hard water is bad for your plumbing, buy it hopefully to decrease future repairs.C: Water softeners, like under-sink disposals, ice makers, ceiling fans, love to break and cost you money.