Sure I can keep making thousands and thousands and thousands extra each month by taking on more debt and whatnot, but at some point all that extra money isn't necessary for my particular lifestyle... so it's kind of like working for work's sake.

It sounds easy in books and what-not but once at it, it's hard work right.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris and/or Morris Invest for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

I'm going to BRRRR the property and im trying to figure out how to add value beyond the obvious like increasing bedroom count. i currently considering adding three additional bedrooms, add coin operated washer dryers with vending machine for soaps and what not, Cleaning service weekly or bi-weekly. what are some value adds or tips others have done?

I've learned so much already on this deal - mostly what NOT to do next time!

We got flashings and whatnot resealed and a few shingles replaced. 2 or 3 other times we have replace a few shingles, and it is still fine.

Almost every city it's better to rent than buy, so anyone that NEEDS to sell to move for a job or what not will rent their house out and rent a new house.

Account ClosedAll of that high-level talk about wealth and appreciation and whatnot obscure the simple basic fact that we tried to communicate: depreciation deductions do NOT apply to flipping.

Besides the higher interest, the issue you may run into with a hard money lender is they will want more money down as a new investor + closing costs and what not.

There is some other stuff out there such as small business loans and what not for veteran's but I am not as up to speed on those.