What is a realistic goal to have within the next year, in order to build cashflow?""

Hey all, first time landlord with ~3 months experience here.I brought a tenant in 3 months ago with an insurance company paying the rent (tenant's house is being repaired after a fire). For this post, the long story s...

@David OhCreating a profit-sharing program is a great way to align employee goals with the company’s success, but it’s crucial to design it carefully.

Hi Grace, your goal of getting into real estate is admirable.

Your agent in Sacramento should've brought this up and checked those rents for you prior to making an offer.Often when renting to a residential care facility you'll get higher rent than normal, and if that's what making the deal work just make sure that it will still work if something happens to the facility and you need to rent to a regular tenant.

Was the CFD entered into after the conveyance or was it prior to the conveyance and entered into before? 

It seems that most condos are selling at the purchase price from 1-2 years prior.

@Jim LynchSome typical minimum tenant screening requirements look like the following, but it depends on your market:-Renter has a gross monthly income of 3x more than the monthly rent-Minimum credit score of 650-Renter must have no prior evictions-No felons (or other notable criminal history)There are a number of different tenant screening softwares out there such as Zillow Rental Manager, TransUnion SmartMove, etc.Be sure to complete an employment verification by contacting the renter's employer and confirm the details they shared with you, landlord verification (if they have a previous landlord), credit check, and background check.

For the primary you only have to have lived in it for 2 out of the 5 years prior to selling it.Takeaways - You won't get to do both the primary and investment without first converting to primary and selling while you have lived in it for 2 out of the 5years prior to selling. 

They seemed good, and looks like they have prior experience managing the building I’m buying (based off the leases that were submitted to me) but way to expensive to what I’m use to … $137 - $184 per door (over 10%) and then $750 per door for the maintenance reserve.