I want this to become a rental property and would like to begin investing in real estate, I am not sure best approach.

That remodel is going to take both time and capital, so it’s a key part of my plans as well.Would love to hear how others are approaching similar goals—anyone else tapping into equity or gearing up for larger projects?

Investors who take a patient, forward-thinking approach can still reap substantial rewards.

If you are considering this approach, I suggest you buy an A-class property in a landlord friendly city and get a PM.

The IRS is taking a more conservative approach and you want to ensure you have all your ducks in a row + a team behind you to back you up if something comes into question.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

The idea is to find a pocket or neighborhood that offers the right combination of estimated ROI and rental demand, giving a balance of cash flow and tenant demand.In my view, this approach provides a more reliable signal of demand than relying solely on pricing adjustments or short-term market trends.

If they have paid off property (especially if the investor is much older), they probably have a healthy stock portfolio as well :) Debt has worked for me, and I'm glad it works for you too!

Examples could include:Partnering with other investors to share risk.Using seller financing or lease options.Leveraging creative rehab techniques to save on costs.Negotiating with contractors in a unique way to reduce expenses.I’d love to hear any stories, tips, or approaches that helped you pull off a deal others might have instantly passed on.

The key is ensuring that even with a slight deviation, there’s still enough room for a healthy profit after costs.Regarding hard money lenders, many investors use them to leverage their capital and scale up projects, even if it means accepting reduced profit margins due to interest and fees.