Dont chase yield and don’t try brrs until have owned a few with tested contacts for labor. 

We're starting to see the fallout from this - borrowers cant exit deals without taking a loss but are refusing to accept this.SC seems to be doing OK at the moment, but Louisiana is seeing price declines.

@Lauren Cartmell 95%+ of agents only know how to do owner-occupied transcations:(So, be careful.Adding to the advice already shared, an experienced investor agent will know that there will be no showings without an accepted offer - to avoid pissing off your tenants with constant showings.

Landlords can enter a tenant's property for a variety of reasons, including: Making repairs or replacements Responding to a tenant's request Removing unauthorized window coverings Preventing waste of utilities Changing filters, testing, or replacing smoke detector batteries Inspections Helping with an emergency inside the unit Posting a notice of eviction"Research your state laws because some of your comments indicate a lack of understanding of the landlord/tenant laws where you are operating (like threatening the tenants to keep the security deposit if they don't respond to you, I doubt that is actually a valid reason to keep their deposit, or evicting for late payments, or charging the tenants for your warranty repairs because you missed your 11 month inspection window which was your responsibility, and it looks like your lease says you can charge up to 18% interest for unpaid fees, is that actually legal?).

Name’s Korinne and I’m so excited to be accepted into the BiggerPockets family!  

Even with a shared bathroom and living room, your place is likely much nicer than the average extend-stay motel, so if your rents are competitive, then you can likely serve this avatar.You may find that a 5/2 is an acceptable temporary housing solution for a family displaced after an insurable loss (fire, flood, etc.).

I purchased my first home in October 2008 in Las Cruces, New Mexico after accepting a career with the federal government.

I tested out a lot before I landed on my favorite 4 for profitability and ease of putting together.

Lesson: if you do not have two separate guest stays completed in 2024, there is no way to meet your 7-day test.

Purchased a test pilot home for shared housing.