My mortgage will be $2,005/month, and I’m budgeting up to $600/month for utilities, leaving a potential monthly cash flow of $995.I also set up an LLC and a business account to track rental income and expenses.Questions:Do you have any advice for me as a young real estate investor?

Applicants have a prior eviction years due to unfortunate circumstance but good household income and noted they are in a better place financially.

At that time, my friend encouraged me to get into real estate with the idea of creating passive income and wealth in future (via appreciation).

Freddie has a reno loan product that can be used for investment properties; this is only for first position, though.For the Heloc - it goes back to whether your mom wants to continue carrying the loan for income, and if so, how will you pay off the heloc once the rehab is complete?

@Gregory SchwartzThere's nothing passive about passive real estate income.

Start by deepening your understanding of CRE fundamentals, including net operating income (NOI), cap rates, and lease structures like triple net (NNN).

You have come to a great place to learn how to build wealth and income with real estate.

On average, you will spend 10% of your income on maintenance per year.

I'm looking to make this part of the retirement stream of income rather than an effort to accumulate multiple properties.

While I do not have an official W-2 currently, I do have a steady income, great credit, and have money saved as well from working since I was 13 years old.I relate to Ian Kay in his journey but also am very determined to make my goals/dreams a reality this year by July 2025.