Look for properties with high cash flow potential, good condition, and room for improvement, such as value-add opportunities.

Inherently the steps are the same as if you were purchasing with financing save potentially less closing costs and ability to close sooner (if needed).The terms of your offer (ie -contingencies, closing cost splits etc) will determine what is different. 

I have them tell me how long a project will take to complete, and then I add buffer days or maybe up to 2 weeks, depending on how long / complex of a project it is and potentially accounting for weather if it is outside work.

Hi Ethan, I would not entertain the idea of getting more money from this tenant in order to potentially increase your cash flow. 

Turbotax isn't going to educate you so unless you'd like to educate yourself and potentially make some costly pitfalls, then I'd outsource.

My main focus is multi-family house hacking, but I’m open to other strategies as well.I’ve always had a passion for real estate and decided to move to a market with strong rental potential and affordability.

A potential goldmine for those seeking to increase property value and generate rental income.However, navigating this opportunity requires strategic planning.

Once you go with a minimum 6 month lease your turnover costs, potential damage, make ready costs, repainting and repair costs, all go down dramatically.  

Here’s how they approached it:1.Scraping Listings: They used web scraping tools like Beautiful Soup and GPT APIs to scan Airbnb for properties in their target areas.2.Image Analysis: They trained an AI model to analyse listing photos, identifying homes with solid potential (good structure, layout, location) that were undervalued due to low-quality photos.

**Letter of Intent (LOI)**: Though not legally binding, an LOI can outline the basic terms and conditions of a potential deal before the final contracts are drawn up, ensuring that all parties are on the same page.It's always wise to consult with a real estate attorney to ensure that your contracts comply with local laws and protect your interests.