With your construction background, you’re already a step ahead.

Plus with no state income tax, cheap insurance, and very low property taxes, I’m probably starting $20k ahead of most people, and that’s a tax free $20k.).

When it seems like a good fit, in the past, I've gone ahead and pre-approved the stay.

I'd click it and see what happens :) It's gone now.

I'm not done with my estimates yet but I'm likely coming out a couple to a few thousand ahead per month when I'm done repositioning everything.

I am currently waiting on a rather large legal settlement to hopefully hurry up and get him his $16,000 or if we can find someone to go ahead and pay him off early (no prepayment penalty), which would be hopefully paid off sooner than later as well in exchange for a secured lien on the property plus repayment of the $16,000 plus interest short term.

@Renee R. just a heads up that there can be significant tax implications to hiring a property manager vs. self-manage.

Here’s to smoother projects ahead!

For more insights on investing in such properties in Cleveland, click HERE to reach out.Why would you recommend 6 months on reserves for a deal like this?

But a heads up...the best financing on these types of properties is seller/owner financing.