Will it cost more?

Most PM software allows late fees to be charged.Ours allows us to absorb the cost of tenants paying electronically thru the software - it usually wants to charge tenants, but we want them to pay electronically.We manually charge tenants a Processing Fee for mailing in their rent, a slightly lower Processing Fee for depositing to our bank.Your success will depend on the Class of your tenants.

The two deals with friends both ended poorly with friendships ruined and tens of thousands in legal fees and court costs.

The question to ask is:  Is my housing cost better by househacking vs renting.  

Thanks for the link to your article.

For residential multifamily properties (1 - 4 units), can you use a home warranty to take care of the repair costs associated with rentals?

However, I still struggle to understand the art of estimating rehab costs. 

As a matter of principle, and financial cost aside, we are keen to explore a full and thorough course of legal treatment for all involved parties here and seek recommendations from community for highly reputed and top law firms in Beechview/Pittsburgh area.

Quote from @Patricia Steiner: There are several lenders who offer low/no closing cost options for first time homebuyers.

Here are a few to watch out for:Property Condition: Most distressed properties need extensive repairs or renovations, which add to your initial investment.Competitive Market: With Phoenix's popularity among investors, competition for the best deals can be intense.Complex Deals: Foreclosures, auctions, or short sales are much more complicated compared to regular real estate transactions and usually require specialized knowledge.Tips to Successfully Navigate the MarketDo Your Research: Understand the local market conditions, including neighborhood trends, property values, and potential rental income.Build a Strong Network: Work with professionals who specialize in distressed properties-such as brokers, contractors, and legal experts-to make the best decisions.Assess Costs Carefully: Factor in the cost of repairs, holding costs, and any potential financing issues when evaluating a property’s profitability.Be Patient: Finding the right distressed property takes time.