Research neighborhoods near colleges, government offices, and hospitals, explore FHA loans, conventional loans, house hacking strategies, and connect with local investors.Good luck!

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

Inventory is scarce, rights are high.You should definitely pick a market you know and can go to. 

Typically it's 10% down for vacation homes for Conventional

I actually used to have a game modeled after Monopoly that was called Slumlord😂 same type of antics with buying property, maintenance cards, dealing with code enforcement etc… Bought it at a real estate convention 

You will live there for a year, hopefully get some equity so that when you refinance into a conventional, you can cash out, but in this market that is pretty unlikely.

@Paola Astrid, if so be the case, refi to a conventional investment loan. 

Thanks for the response.Another question - I'm currently at 6.875% rate conventional for a year now, is it reasonable to refinance now at 5.875%, conventional?

This is what I am encountering, in the current Mortgage Industry.If you think you will go FHA, Conventional, FHA 203k, etc. and then Quit Claim the property, to a Corporate Entity, or a Land Trust you run the risk of the lender discovering a Title Transfer occurred and activating the "Acceleration Clause" or "Due on Sale Clause" that requires the loan to be paid in full, within 'x' number of days.

BTW would love to network with you on Dallas CRE Multifamily inventory if you have access to value add