Purchase price: $275,000 Cash invested: $45,000 Sale price: $400,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

Not for a single airbnb like you are seeking (you and everyone else) but because if you start a BNB or a guest house or a hotel, you can get 40% of your investment back in the form of a tax CREDIT that you can sell for about 90 cents on the dollar. 

Use gap funding (credit lines, partners) for the down payment.

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

Naturally you need to charge them for any damage to incldue smoke damange 

Also no credit reporting, so I signed up for Landlord Credit Bureau at my expense.Hope this helps, for now I’ll be staying with Hemlane.

We have about 1/3 to 1/2 of a down saved at the moment, have a 755 Credit score, and are feeling good.

Even more than credit, the more experience and capital you have, the more aggressive a lender is going to be.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

If the applicant comes from the pool of people that I or my tenants know, I use real estate as a way to give back as many of my tenants will not qualify credit wise or may even have a criminal background or would struggle for another reason if I were to just stick to the "background/credit check" criteria.