Quote from @Rick Im: Quote from @Ashish Acharya: @Rick Im Inspection fees for unsuccessful deals and mileage for property viewings before acquiring your first rental CANNOT qualify as start-up expenses.

In my experience, the General Contractor usually acquires the permit(s).

To provide a practical example, I acquired a 60,000 SF assemblage that contained an autobody garage, nearly an acre of surface parking and a 4 unit building in Philadelphia.

Acquiring with unfinished basements, in SFH heavy residential areas. 

Borrowers can acquire a primary residence from up to 1-4 units for as low as 5% with conventional, as the regulation was approved last year of November 2023.

Price points are low when acquiring real estate but that also comes with lower rental market values for your units so it pretty much evens itself out.With that, if you are going to buy in Reading I advise you strongly consider managing your own properties.

The foundation is so bad the house has shifted and I’m going to be spending nearly 40-50k to get this remediated.

The majority of my rentals I have acquired were for equity not cash flow.

It provides the least amount out of pocket to acquire properties. 

The mortgage foreclosures require the state to acquire three appraisals of the property, the opening bid on the auction will be 70% of the average assessment as the opening bid.