Over-budgeting is critical to ensure that renovations don’t eat into your profits.Market Fluctuations: If property values in your area do not appreciate as expected, or if you face a market downturn, the amount you can refinance for may be lower than anticipated.Financing Challenges: Securing financing for the initial purchase and rehab, as well as refinancing after the property is rehabbed, may be challenging, particularly if the property is located in an area with fluctuating values or if the rehab work doesn’t immediately improve the property’s appraised value.Tenant Risk: Rent collection and tenant management can be unpredictable.

You'll need documentation of the cost to replace, hopefully, pictures from your cleaning team before their arrival, an owner's closet with lock for supplies, and limit the number of supplies you provide to a determined number.

For those who invest here, it has been tough sledding since 2023, and much more challenging since the onset of 2024.   

Our portfolio currently cash flows, but cash flow isn’t our top priority right now since we plan to use this portfolio to supplement our retirement in 12 years when I leave the Army.My biggest challenge is committing to an out-of-state market.

Then you'll have to supply a lot of expensive wood for that fireplace and the outside fire pit. 

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

Hi Jemini, I would start by doing research in the markets you're interested in to see what the rents vs. purchase prices are along with looking at the supply and demand of the market. 

The power company supplied and installed the new meters (at no charge, at least not yet) and verified all the work around the 4 gang meter pan was done up to their standards.

Maybe we can exchange insights and strategies to help each other navigate the challenges of getting started.Looking forward to staying connected!

I think the 0% origination will be challenge.