Because the IRS requires you to have no more than a $50K loan balance on your 401K over a rolling 12 month period I had to wait to do another loan even though I had mine paid back in full from when we took it out in 2023. 

@Jenny Yu sorry to hear about your experience, we own and operate 51 units we own and manage for other clients in Jacksonville and Orlando.

It sounds like a few people on this thread don't really understand how PMC's operate or why they may charge extra fees.

Operating in an industry where "we track time," I can offer a few hopefully helpful tips:1.

Then you specialize or hire legal, operations, finance, investor relationships, concept, deal analysis, Which investment level your at determines what experience you need.  

You can build your own team i.e. title co, insurance, pm, contractors, handyman,process server, lender etc.... or you can find an operator who can get you going in that market while simultaneously building out your team.Section 8 housing is a great way to ensure consistency with rent payments however not all tenant who have HCV pay 0%.

If they try to pay their labor as 1099 they run at great risk of violating a host of draconian labor laws such as AB5, the borello law and a litany of "misclassification" laws.There are substantial differences in how "right to work" statstate as operate as opposed to "non right to work" states.SBA defines a small business based on employees and revenue size.

"I actually think renting a place will get me started"If you are talking about being a tenant yourself and operating a airbnb in your rental apartment don't hold your breath.

A friend of mine recently got a $2M umbrella policy for around $300 annually by bundling it with home and auto insurance; it’s worth exploring.Out of curiosity, are you primarily investing in residential properties or venturing into commercial spaces?

More than likely the asset will in a location where cap ex & management/operational costs are disproportionately higher and therefore your expense ratio will also have to be adjusted to a higher number.