- You can buy using FHA 203(k) loan which allows you to finance repairs into the purchase mortgage.If you find you like being a landlord, you can BRRRR a property every year.You can also start BRRRing rentals w/o planning to live in them.

Central A/C is damaged beyond repair and needed to be replaced, which can't be done economically or with coopperation of the HOA and other neiighboring owners.

There are a ton of complexities with properly repairing a fire damaged house....they sell really cheap for a reason.

Unless there is an emergency situation, take a lot of photos and call your insurance agent before doing any repairs.

3) What neighborhoods would you recommend in this price range if I'm targeting high quality tenants?

@Ming HuangRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Lots of areas that pencil very well on paper but the quality of renter you will get is going to eat into any profit you may think you are getting.

Working with Real Estate ProfessionalsLocal Real Estate Agent: Choose an agent experienced in student housing.Property Management Services: Consider hiring a property manager if you’re not local.Inspection and Appraisal: Conduct thorough due diligence to avoid costly repairs.6.

My advice would be to really focus on placing a quality tenant.

What do you have in your lease about repair requests?