Prepare financially by saving for down payments, improving your credit score, and setting aside emergency reserves.

On paper, that's a 88% return before depreciation (can't depreciate land, but you can do a cost seg on the septic and other improvements), appreciation, etc. 

Based on all those factors, your best chance would be to partner with a more seasoned investor to get loans.

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

Germantown has plenty of opportunities, especially if you keep an eye on areas with improving infrastructure or schools.

There is a 92.7% chance they are lying about the insurance.

Your aim starting out should be to get the best reviews as possible and use guest feedback to make improvements as you go.

If you have the cash to make a lump sum payment and are happy with your current loan terms, recasting could be a smart move to improve your financial flexibility.

There is a good chance that if you put your primary home into an LLC, you'd most likely lose that exclusion.Is there a particular reason you are considering making this LLC?

Quote from @Johnny Lynum: If you had the chance to invest in your first property, would you choose a single-family home or a multifamily property?