Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

I literally just found the "SELL OR KEEP" calculator here on BP with the rest of the calculators!

There is no additional "risk" on the note like a demand clause etc, but you have  extra expense in upfront one time costs and the pre-payment penalty that most programs are sold with if rates do drop as expected in the future.  

Being a responsible person has nothing to do with the financial calculation for rate of return or cash flow. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Build a strong team, including agents, lenders, and property managers, and use tools like the BiggerPockets calculator to analyze deals.

After she gave me the numbers, I calculated the rehab to be around $16,000 which I was fine with.I saw on the app we use to track expenses that there were small charges for the rehab which I was fine with.

I used all the rent and any extra money towards paying them down.

If you have extra cash, payoff the initial mortgage without adding more loans.