- Yes, it does take more time to schedule this:(--- Our FieldTechs do have sets of locks our locksmith has pre-keyed, so we can "rekey" a property faster.

Thanks to strong bookings and smart management, I recently paid off the entire HELOC!

And no partner bank was willing to finance based on projections and a turnaround story, even though we had an SBA pre-qual.In the end we made the case to the sellers that no buyer would be able to obtain financing and got them to agree to 85% LTV seller financing.Happy to answer more in-depth questions via DM. 

Basically - I want a PM who keeps the property in good shape and occupied to get paid, and a PM who is either bad at maintaining properties and finding good tenants, or just really unlucky, to not get paid.- PM charges 8% of rent, which escalates to 10% if the property exceeds 95% occupancy with rent collection. - PM charges minimal fees.- PM is contractually obligated to perform annual maintenance/inspection to keep property in top shape. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

Borrowing against your paid off house without an income puts way too much pressure on the success of whatever deal/project you decide to pursue. 

•This balloon payment will be paid through a cash-out refinance of an investment property valued at $198,000.7.Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:•Purchase Price: $215,000•Down Payment: $43,000•Loan Amount: $172,000•Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):•Monthly Payment: $1,573.39•Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):•Remaining Balance: $78,556.96•Monthly Payment: $1,541.18Additional Conditions:1.Prepayment Penalty: None.

Quote from @Andrew Katz: My tenant paid a portion of their rent for December on 12/31/24 (late).

The fact I can go to my kid's golf game today, yet still catch a vendor overcharging me $81 the day before on a SFR in Georgia makes me feel the systems that are in place, plus the ability to manage sacrifices has paid off.I've had the same team in most of businesses for almost 8 years, and have a growing RE team that continue to impress me. 

I also do a pre-screening questionnaire over the phone before I agree to a showing.

If I were you I would get a good flavor from the tenants how they interacted with the previous owner, essentially, how they paid, how did they make repair/maintenance requests, when/why did the communicate with the owner, etc...