You'll pay a higher rate and may need to have more of your own money in the deal in case of unexpected repairs. 

Once you’ve got a little experience under your belt then you can attempt buildings that need more renovations/repairs or have had management issues.

Hey Denny - For rehab costs, a good place to start is breaking things down room by room and getting rough estimates for common repairs like the roof, HVAC, kitchen, light cosmetics, etc.

Your homeowner policy may cover minor repair work but probably not a large construction project. 

A CPA can ensure proper filing of rental income on Schedule E and help identify tax-saving strategies, such as optimizing deductions for maintenance, repairs, and travel.

Cameron is our local manager in Bend and I have his cell phone.

If your credit ****** you need to hit up creditrepair.com or some other credit repair  company  and work on getting yp to about a 680 or more with you learning  from jerome.   

4. how do you estimate a repair?

Dealing with repairs, contractors, tenants etc is something I got sick off.A relative is renting out a garage in some empty lot and the thought crossed my mind of maybe buying some lot for car parking but I havent yet done any research on potential ROI on it yet.

Keep reserves. 80% of buyers experience a major unexpected repair in the 1st year of ownership.4) Talking with an agent who can help increase your knowledge of the process and owning a home.