This is obviously much better than $1,400 per month.On top of that, you will now get 2x the depreciation write-off so your taxes should go down.On top of that, you will now get 2x the appreciation when real estate price go up.On top of that, your tenants are helping you pay down the loan, initially at about $100/mo for both properties, which gradually gets better and better.On top of that, you now have more units so if one or two goes vacant, you have more renters covering the losses of the vacant units.If you want to keep these properties, I would do a cash-out refi and go buy more rental real estate.

We usually have inspection clause in our agreements for no more than 10 days after EMD is completed. 

He gave me the owner's number (Jeff) and I called him on the spot, hoping to be able to offer my services to help him find and sell more homes in the neighborhood.

Perhaps when you get finished it is something I can help you set up! 

I would ask the insurance company for more documentation on the reasoning. 

Having the property on your tax returns will help to wipe the mortgage expense with proposed rental income, making it easier to qualify for your next primary residence purchase.

The refinance step is where you pull out this equity, typically in the form of a cash-out refinance.Here’s how it works:You refinance the property at its new appraised value (after rehab and renting).You take out a new loan based on that increased value, ideally for the full amount or more than what you originally paid for the property.The goal is to pull out enough money to cover the cost of the original purchase and rehab (or even more, depending on the property’s appreciation).This allows you to recover your initial investment, which can then be used to buy your next property.5.

Hope this helps

This helps prove your direct participation.Proof or Documentation – Keep receipts, invoices, emails, or even before-and-after photos as evidence of your work.

Troy helped me identify properties with strong short-term rental potential, and when we found this home in Palm Harbor, we moved quickly to make a competitive offer.