Quote from @Alan Mills: Got an inspection objection back with something I’ve not seen on my other rehab’s (this is a Colorado property):“The seller agrees to have a licensed plumber install external sewer cleanouts per city code and scope the sewer line ensuring its integrity.”This was a full interior/gut rehab and almost everything is brand new.

I would get an attorney or title company involved to create your loan documents to ensure they comply with the law and cover all the aspects you need.Another method that is likely your best bet to take on investors is to create a joint venture (JV).

Made sure to check the ledger and T12 to ensure that the tenant was qualified correctly before purchasing the property.

This gave us peace of mind and ensured that any unexpected incidents wouldn't result in major financial setbacks.These two choices have played a crucial role in optimizing our STR strategy, balancing profitability and protection.

However, consider STR seasonality, local regulations, and management demands, and ensure your equity loan and new primary residence costs fit comfortably within your budget.

Obviously, if you are just looking for LTR's there is a bit less risk there.If you're going to do it, make sure to fully vet your team tooth and comb and ensure they have a reputation worth something to them.

It can strengthen your relationship with your property manager and demonstrate that you value their contributions to your business.It helps ensure compliance with lease agreements.Many lease agreements require landlords to name their property managers as additional insured parties on their insurance policies.

To maximize returns, ensure compliance with local regulations, prioritize owning the land, and offer student-friendly amenities.

Have to ensure that with taxes and insurance added you can meet the DSCR ratio needed but you should be able to refinance out of this one.

My approach is conservative and focused on finding properties that meet specific criteria to ensure solid returns.If you’re interested in multifamily investing and would like to explore potential partnership opportunities, feel free to reach out!