Here are some tips and insights to consider as you begin building your real estate portfolio:Options:Refinancing: If you have equity in your condo, consider refinancing to access funds for future investments.Investment Loans: Explore options like conventional loans for financing future rental properties.HELOC: Depending on your equity and financial situation, a Home Equity Line of Credit (HELOC) could provide flexible financing for down payments or renovations on new properties.Build a Financial Strategy:Budgeting: Create a detailed budget that includes mortgage payments, property taxes, insurance, and maintenance costs for your rental property.Cash Flow Analysis: Calculate expected rental income versus expenses to ensure positive cash flow.Emergency Fund: Set aside funds for unexpected repairs or vacancies.Research the Rental Market:Location: Choose rental properties in areas with strong rental demand and potential for appreciation.Tenant Profile: Understand the demographics and preferences of renters in your target market.Market Trends: Stay updated on rental market trends and local regulations affecting landlords.Property Management:Self-Management vs.

@Grayson Grzybowski, Let's run some numbers to show you how this should work out. Let's

I bought flooring from Ollie's Bargain Outlet, a chain store we have around here that buys lots of name brand goods.

However, some local jurisdictions may mandate it.Additionally, bedrooms must meet certain electrical outlet and lighting requirements, cannot have openings directly into a garage, and with some exceptions cannot contain gas appliances.

I'm based in cape coral and have majority of my portfolio here... you are right on cashflow and I will add appreciation and population trend is planned to be increased due to this city is one of the cities used as an outlet of miami, Orlando and Tampa since they are too expensive... happy to chat whenever you want.

Hire someone professionally locally to work for you and oversee manage the project (a construction manager).Some examples I can provide having worked in the construction industry is - soda bottles filled with urine in the walls, food thrown in the walls, throwing coffee down duct risers, sheetrocked over outlets providing fire hazard...

This should include down payment, closing costs, potential rehab costs, and a reserve for unexpected expenses.Market Research:Choose a Market: Decide on a market where you want to invest.

This helps in planning and ensures you’re prepared for unexpected costs.Consult with Your CPA Regularly: Have periodic check-ins with your CPA to review your financial strategy, tax planning, and any changes in tax laws that might affect your investments.

Having unexpected surprises will destroy you.  

I expect the delays will mount unexpected costs and Frank will be hiring a series of GC's who lien the property after they quit.