If you can arrange a visit to see how the tenant is taking care of their current place, that will open your eyes as well.

Also, as others have noted the way you appear in a lenders eyes will change as soon as that $500k salary goes away.

Because we were clear eyed going in it has worked out ok. 

Also, keep an eye on local zoning and landlord-tenant laws—they can vary quite a bit.

It really highlights the value of having strong partnerships, effective marketing, and a sharp eye for profitable properties.One takeaway here is the importance of leveraging connections and networks to identify similar quick-turnaround opportunities.

There is absolutely a way to have eyes, ears and boots on the ground for finding and rehabbing properties.

MFDUs in high-demand areas like Asheville might be limited, but it’s worth keeping an eye out for smaller duplexes or triplexes that align with your budget.If neither works, continuing to rent while buying a pure investment property in a more affordable nearby market could make sense.

The reason I stayed at the Banana Bank Lodge this time, is because the Lady is a world class artist, thus an artistic eye. 

(His profit is in the entry fee) He owes 3 months missed payments and I offered to catch up the arrears, bring the loan current, and take ownership.I myself own and operate 13 units since 2017, and I’d say I’m a good operator.Anyways, the issue is that now the bank/owner has been notified of non payment, and while the seller is telling me everything’s fine between him and the person on the note and all, I know that the bank has eyes on this account now. 

That kind of shoot-from-the-hip approach can be fun for a minute, but it usually ends up like my old buddy Rick’s first deal.. he bought a distressed fourplex in Tucson years back without a real plan, and while he eventually turned it into a solid monthly cash flow, he spent the first six months sleeping with one eye on the tenant ledger, praying the HVAC wouldn’t bail on him after a hot desert day.