Let’s hope that guaranteed protection comes through.

Aside from downpayment, you want to have a solid emergency fund in place, something that can cover unexpected repairs, vacancies, or any other random costs that pop up.I’d also recommend saving more than you think you'll need and keeping a close eye on your expenses.

There are so many scams out there that we have to protect ourselves and unsuspecting tenants before allowing a showing.

To invest out of state successfully, focus on building a strong local team (agent, PM, contractors), automating deal analysis, and using contingencies to protect yourself.

Now is not the time to refi for you, keep an eye on the MBS market, when you see a 1-2% drop thats when you should refi.What state are you in?

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Most importantly, to protect you, the investor.

Therefore this post but those numbers (thank you) eye opening.

To simplify the existing lease I thought about asking the tenant if they would be ok modifying the addendums to get rid of the resident benefit package and the building protection plan. 

I agree that austin from up close looks like a declining market but from a birds eye view, it makes for great opportunities!