If you buy regular keyed locks (non-electronic) as Nathan Gesner recommended, then buy Schlage because they have a lifetime warranty on mechanical and finish. 

I recommend you read it thoroughly before you proceed. 

I highly recommend an attorney to draw one up as each state and each property can have unique issues. 

I’m looking to connect with those of you who are actively using or interested in the BRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy to scale your rental portfolios.Whether you’re new to BRRR or a seasoned investor, I’m here to discuss best practices, potential local opportunities, and ways we can collaborate to make your investments efficient and profitable.

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

Best practice is to keep one or two payments in reserve from the buyers down payment for such instances.

I recommend getting a few quotes and choosing one that is right for your financing strategy. if you are trying to get fix and flip money there is a wide disparity in rates and charges.

To start your journey, I recommend focusing on building your network by joining meetups and engaging in online forums, while narrowing down your first investment based on your budget, market, and goals.

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If you can give a bit more info about the property, you can get more focused recommendations.