Anyone promising you overnight success with passive income is selling a dream, not reality.One of my clients got sucked into buying a “high cash flow” Section 8 property in a different state because it sounded like easy money.

As easy as this sounds, it's not simple and usually like pulling teeth.

For example let's say you have an older home with plaster walls, your contractor will replace them with drywall at a fraction of the cost but the insurance covers the cost to replace with plaster which could be thousands of dollars more.

It sounds great but I'd love to know, has anyone actually successfully used this strategy and/or used his services?

Hey Suhaib,It sounds like you're planning to stay in your rental part-time, so the big question is: are you focused on cash flow or equity?

Similarly for the master bathroom, I want to only replace the existing vanity with a new one, keeping the current light yellow tiles.

It sounds to me that you may be looking for a turnkey solution on long term rentals.  

I can't fathom why they would do that unless you were a direct heir waiting on an inheritance and it doesn't sound like that.

In fact, since the pandemic and inflation hit, the 2% Rule seems to have all but disappeared in all real estate discussions and been replaced with the “1% Rule” in this tighter market. 

Hey there,That sounds like a solid plan!