Hello all,I have been actively looking for my first investment property for the last few months and have had the opportunity to put in one offer so far based on what I am looking for numbers-wise.

I originally used $1,800 as my insurance placeholder during underwriting for this first property (assuming for a commercial style policy), so I’ll still be safe cash flow/return-wise.

My advice would be not to be pound foolish and penny wise, spend the money now and sleep safer. 

Since you’re concerned about the electric bill, it’s wise to avoid any appearance of a “self-help” eviction.

Quote from @Chris Wise: Hey Jerryll, if you were a new wholesaler / flipper (who generates their own leads) and had a marketing budget of $5,000 over 6 months, how would you spend it?

Investing is a risk but doing it wisely you will be wealthy. 

You also need to use your social media wisely, not as spam.

As I’m starting my real estate investment journey, would it be a wise decision to rent out my primary residence and seek a temporary rental for myself while I save money to purchase an additional property for investment?

If they are downplaying EVERYTHING condition wise in the property, that would set a potential alarm bell. - Someone that is going to educate you throughout the process, not just be your friend- I'd recommend someone that also has solid volume in the last 1 - 2 years.

Time is beyond precious now and if we want to launch we need to use our limited time wisely and STR no longer fits the live we want to lead.