Partner Driven financed the E Church Street deal using its own capital, covering the $200,000 purchase price and $5,000 renovation costs.

Being a first time landlord I may have under priced my rental but it covered the mortgage and I have been without a tenant for a grand total of 15 days in 6 years.

My initial goal is to earn enough passive income to cover all my bills, which amount to approximately $3,500 per month.

Memorial Day to Labor Day will pretty much take care of itself, but adding in amenities like a hot tub and a sauna will help you draw in more traffic and bookings even when there's a foot of snow on the ground.Just to touch on the LTR option, I don't know if this would get you the kind of returns you'd be looking for to even cover your mortgage, let alone cover any maintenance/capex/management costs the property might require. 

Here are a few options you might consider:Home Equity Loan or HELOC: If you own another property with sufficient equity, you might be able to take out a home equity loan or a home equity line of credit (HELOC) to cover the $140K.

Of course always do that, but here more than anywhere you need to cover everything.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

They cover most everything you have NOT thought of.The ony issue we ahve with them is the default 5% Vacancy Factor, only works for Class A rentals.We believe for Class b it should be 10% and Class C 20%.Why?

@Melissa FaraiasWhat specifically does this 4k cover?

Like yeah, the IRS really wants Walmart and Target gift cards over the phone in the next five minutes to cover your "unpaid" taxes.