You are like many others who are getting started and unfortunately your generation is screwed because of the amount of spending is older generations have done and put the debt on you which also has led to record inflation.All you can do now is plan for the future and don’t force things but invest wisely when the time is right.

Most likely all new mechanicals, windows, a fair amount of framing, insulation, etc., etc.

The amount will be $2,507 every month ($30,084 every year).

To be honest in today’s market I’m not seeing nearly the amount of wiggle room in renegotiating a price based on repairs.

If there is a due on sale clause in the loan doc then it doesn’t matter what the loan officer told you verbally.I’m not an attorney, but from my understanding of the loan is still in your name personally a good litigator can pierce the veil and your LLC protection wouldn’t amount to much.

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

We have a good amount of guest that come for graduations at Fort Jackson, baseball tournaments, family get togethers, lots of people for various types of work trips, etc.

Welcome to the community and be ready for a huge amount of information at your finger tips.

Baselane has been a game-changer for me, saving a significant amount of time compared to manually tracking everything in Google Sheets.

Thus, when a foreclosure sale is held, you can set the bid amount up to the amount of the total debt, which would likely increase from 80K to include the legal fees, receivership costs(we suggest 5 - 10% of the rents collected), repair costs, additional accrued interest, minus rents collected.