Hi Everyone,I’m investing in an essentially turnkey (it was a flip) MFH in Woonsocket, RI and wanted to get your take from anyone who has experience in the city.I know the city has a bit of a reputation, but it’s in the Fairmount neighborhood that tends to be quite good.

Errors & Omissions (E&O) insurance isn’t legally required but is essential to cover claims of professional negligence.In Maryland, the requirements are similar.

Prioritize Safety and SecurityRenters value safe areas.

Look at things like safety, schools, local amenities, and the overall vibe.

I met with Wicked Smart today and was told they help you set up a lead sourcing system, help you structure creative financing - which is essentially lease option/purchase, subject to and owner financing....all strategies I am interested in learning more about.

So for the first property which will cost over $1 mil to construct, there will be stacked loans, essentially $280K will come from loan assistance program,( the name is not correct but the same idea).

I avoid cash as it is a safety risk to have large amounts on hand.

Which essentially means you only put down 2.5% down on multi-unit.

Be ready for continuous learning and remember that networking is essential in this industry.

I just bought it in the fall and am trying to complete a bunch of modifications during off-season (e.g. metal roof, certain safety features, treating the deck, possibly updating the fire pit area, etc).