Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Another key benefit is diversification; an SDIRA allows you to include real estate in your portfolio, reducing risk by spreading your investments across different asset types, which isn’t possible with a standard IRA.Moreover, assets in an SDIRA often enjoy protection from creditors, adding a layer of security to your investments.

He even tells us not to do business with seniors on Social Security or with newbies, but he has no qualms of ripping me off on Social Security and a newbie!

If you're already in a secure financial position, leveraging your equity could be a smart strategy.

So I picked up a few books which includes, "The Book on Investing In Real Estate With No (and Low) Money Down," and "The Book on Rental Property Investing," both by Brandon Turner, which introduced me to the BiggerPockets community.With a decade of experience in property management under my belt, along with my property management certifications and an NC real estate broker’s license (with Broker-In-Charge designation), I’m eager to leverage my background to secure long-term financial stability for my family.

If you can save up 20% down in a low-cost market like Cleveland, you could use a DSCR loan to secure financing while you still don't have any stable income. 

One of them being you can't charge more than one month security deposit.

I am subletting a property that I am planning on purchasing the set up where instead of any type of security deposit I am re-having the property which is necessary before I rent it out.I will have about $20,000 in expenses all before I purchased the property.

There is also the emotional aspect that makes us want to avoid certain things, like townies walking through just because they are nosey.

We have been fortunate to rarely hold any security funds from former tenants.