While I’m open to both turn-key and fixer-upper properties, my preference leans slightly toward value-add opportunities where I can improve the property and increase equity or cash flow.That said, I’m also happy to consider turn-key options that provide immediate cash flow if they fit within my investment strategy.

Did you finance this deal with a local bank or credit union?

Reports to credit bureaus.

IT DOES NOT WORK at improving your financial balance at all.

Historically, full service management on the coast has been costly but in recent months management rates have come down and quality has improved.

You have to put 5% down vs 3.5% down, rates are usually higher, but if you have strong credit, your PMI cost can be cheaper than that of FHA loans. 

So I would caution everyone to make sure the replacement cost for your improvements will realistically cover your actual replacement cost in the event of a total loss.

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

To further improve cash flow, look into doing MTR(travel nursing) or if possible STR(more risky).

These programs offer options for less money down and in some cases DPA - Down payment assistance.As a banker for over 18+ years I am very skeptical when I hear a new name in the business only because its become tougher to lend with all of the new laws and credit/insurance requirements and regulations.