Be sure to factor in contingencies for unexpected costs during the rehab process and maintain a realistic cash reserve for property management and maintenance.

Building a portfolio allows you to gain experience, develop systems, develop your own approach to managing properties etc.

I'm a lending manager with 120 loan officers under me and 2 of my great friends and colleagues specialize in manufactured lending The reason most lenders don't do them is because:1.

Quote from @Jeff Roth: Hi Lina from Texas-Congratulations on your interest in investing in mid-term rentals and you are wondering how and where to get started.I get this question frequently from investors.Sometimes and investor is looking to keep their property cashflow positive as insurance and taxes have squeezed cashflow by turning units into mid-term or short-term rentals.First off, ideally, the property will cashflow as a long-term rental should something disrupt the mid-term rental model.You will also want to have the property be near where there would be a demand for mid-term rentals (hospitals, universities, research centers).Monthly rents for mid-term rentals are about 20% (+/-) higher than unfurnished similar long-term rentals.There are property managers that will manage mid-term rentals for you and I always advise my clients to use property managers to keep their investment as passive as possible and for compliance issues related to Fair Housing Laws and local regulations.To Your Success! 

Sometimes seasoned investors want to sell part of their portfolio because they are tired of managing properties, need quick liquidity, or are looking to 1031 exchange into something bigger.

If part of the property is rentable while renovations are happening, that could help offset carrying costs.Given your construction background, you’ve got a huge advantage in managing the project efficiently—it’s just about getting through the red tape and de-risking the unknowns before pulling the trigger.Have you talked to any local investors or contractors who’ve tackled similar projects in Wicker Park?

After 30+ years of property management, I'd say get used to it sucks. 

I have used TurboTax and Taxcut, so I am looking for an accounting/property management software for Mac.Thanks in advance.

I want to know more about the area and build a team that can help me purchase and manage properties.   

It got me thinking: maybe we’re solving this puzzle in the wrong places.I’m the CFO of a company that develops, builds, and manages multifamily projects, and we’ve been digging into rural markets in the southeast US—think rural Georgia, Alabama, places like that.