For example, I often recommend working with vendors who specialize in rental property maintenance or have experience with rental landscaping to keep your property looking great without overspending.Start Small and SmartFocus on buying a property that fits your budget and investing goals.

Your clients should focus on properties with significant equity potential and work with experienced contractors to stay within budget and timeline—especially with borrowed funds on the line.Avoiding Bad Deals - Encourage them to work with experienced agents, contractors, or mentors and always run multiple scenarios, including worst-case outcomes, to stress-test their numbers.Reserves - Advise your clients to keep a reserve fund separate from their loan for emergencies, unexpected expenses, or delays.

After adding an extra bedroom and bathroom and rehabbing the house, I was well over budget.

With $150k here you’re just a little tight on budget but can make it happen if you self-manage and do your own furnishing and design.  

However, consider STR seasonality, local regulations, and management demands, and ensure your equity loan and new primary residence costs fit comfortably within your budget.

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?

Considering it is already 2025 and they don't have a budget, you might also have an incompetent HOA to deal with.

Partner Driven financed the Main St deal by covering 100% of the $20,000 purchase price and $45,000 renovation budget, ensuring Amanda Frecks could focus entirely on project execution without the stress of upfront expenses.

Housing agencies have an annual budget and issue vouchers based on that budget. 

It depends what your budget is, how much you value a CPA on your team, etc.