Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

Lender does not look at your income, just your FICO and they want to see rental income.

If you were financing a property that netted $300 after principle, interest, taxes, and insurance (PITI), and say your rent was $1,200 a month.

By utilizing section 8 income we will turn it into a property that is insured beyond belief and make over $ 418,000 gross $320,268 net.

I'm a local youth pastor in MN and I'm looking into getting started in real estate so that I can provide extra income for my growing family.

Conversely, if new houses are being built frequently, older properties may struggle to maintain their value.Property taxes also play a significant role.

In my case, all three sellers were older and tired of dealing with tenants, but they liked the steady income.

There was an STR boom when many people bought homes here thinking they could have passive income, but that is not the case here as much as it is in places like Asheville (which is still seasonal, but not as much).

Embarrassingly, I listed our property with the usual $50 pet fee (which can only be $35 now) and asking for income 3x rent (which is now 2x).

We all do the same thing, we just call ourselves different names and carry similar but different licenses:- CPA - Certified Public Accountant- EA - Enrolled Agent - Accountant - Tax advisor - Tax strategist- Tax consultant - Tax plannerIt all means basically the same.