Visit some properties, eat at some resturants, make some connections(realtors, insurance agents, etc).Once you visit the area, you can make a better informed decision if thats an area that you want to buy in.Once you did this, and you are new to buying properties, I would maybe visit the property when it is being inspected.Once you have a couple of properties under your belt, you can rely on the home inspection report.Best of luck

Even thought it needs extensive repair due to damage from the tenant and since I live in the front unit, I don't think I can deal with a renter living free, getting uber eats delivery and working without paying rent.

Payment is manageable but definitely eating into the amount we can save and invest.

No Interest or Loan Fees: Hard money loans typically come with high interest rates and additional costs that can quickly eat into your profits.

If they are financing it, you would just set up repayment terms they are agreeable to which also helps you reach your goals.Regarding a partnership, that's a different animal.

What I learned is that student housing doesn't operate like multi-family, even thought technically it is. 2 different animals.

You can increase your net worth by investing in assets that appreciate instead of spending your money on vacations, expensive vehicles, designer clothes, and other luxuries.Cut unnecessary expenses: Many people spend more than they realize on daily expenses like eating out, buying coffee and snacks, unused subscriptions, and other things.

@Andrew Syrios Tulum  ruins of course and if you can make it Akumal to see the giant turtles eat under the sea!!

At this point in our market it seems like to me the better option would be using the HELOC for the entire purchase just because the interest on two different loans would eat up any possible cash flow.

Here are a few common mistakes startups make when purchasing an investment property:They calculate expected annual gross income based on 100% occupancy rates.Poor property management results in tenant turnover.High vacancy rates cause lost rent.The local rental sector is experiencing a downturn.High maintenance or repair costs eat into profits.Getting rental rate wrong—either not charging enough or charging too much.Before selling your rental property, it’s crucial to determine the reasons for lost rental income.