I care about collections, not just bodies in the building.

We are looking into getting a fixer upper and plan to rent out our original residence ( Zillow says we can get $2700 median rent in our area ) while moving and fixing up the new house.

Taking a leap at 21 and turning a fixer-upper into a solid rental is really impressive.

Early on in my career, I saw a close frend do something similar.. she borrowed from her circle to finance a rural fixer-upper, then paid them back once she refinanced after the rehab.I’m guessing that massive yard plus the barn is already a big selling point for your tenant, especially with a family that wants a little extra room for animals.

.: @Zeke ListonDo you think investing in property values from 120-180k in upper class c neighbourhoods is a achievable for my first OOS?  

One of my close friends in the busines had a similar setup.. her husband was also a contractor, and together they tackled a fixer-upper that ended up netting them a solid profit on their first deal.When you’re hunting for the right property, I’d lean on a realtor who really understands investor math... someone who’ll help you break down potential cash flow or resale value.

My brother needs to move back to the area and found a duplex fixer upper.

Do you have a price point you're targeting and are you looking for turn-key properties or something along the lines of a "fixer upper"?

Almost nobody in the Upper Peninsula has air conditioning though so maybe can save money on just doing a new furnace and not a full HVAC, we'll see.  

But if they don't willingly make the payment your only option would be to sue, and they have the upper hand to let the lender know about the sale possibly triggering DOS.