Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

It’s worth considering the trade-offs between the stability of income and the increased oversight and hoops you'll have to jump through.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

In 2021, this property would have sold for $1.2M.While this, still, is hard to cash flow at a 7% 30-year rate, buying a property that used to trade at a 5% cap rate for a 7.5% cap rate is inarguably better value.

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

If I had to change one thing I would have traded my older properties up for newer larger ones starting in years 5-7. 

That method will increase your ROE significantly more.Also read the BP book on BRRRR investing.

Look into getting into a skilled trade as an electrician or a plumber Work more spend less.$10,000 might seem like a lot to you and it is to your circumstances but its doable.Good Luck!