Duplex can always add additional units via the ADU laws. 8) Related to number 1, purchasing a property with an existing ADU is cheaper than buying a property and adding an ADU.

And consulting with a local attorney to ensure compliance with state-specific real estate laws, plus making sure you have the necessary permits, is a smart move.As you start, also look into state-specific rules regarding contractors and renovations, especially if you plan to flip in different states from where you reside.

As a new owner, you should confirm if you can raise the pricing on the rent, and do that accordingly to the laws.

It is just laughable when places have regulations like a homeowner can only have a certain number of STR listings by the law but these big name companies suddenly start with 20 units in the first month.

I’m reaching out to you, the seasoned investors, for guidance as I work toward making my first acquisition.So far, I’ve analyzed over 100 deals to assess their viability and profitability, and I understand the law of percentages in CRE.

Duplex can always add additional units via the ADU laws. 8) Related to number 1, purchasing a property with an existing ADU is cheaper than buying a property and adding an ADU.

Keep in mind magistrates deal with MANY MANY cases involving small issues so their rulings OFTEN may not follow the correct technical application of the law.

Next year, your income may change; your family or tax situation may change; tax laws may change.

What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuitsHow familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?

Quote from @MIchael McCUe: Money isn't easy to save and $10,000( my debts) is a ton of money I want to save for a downpayment, I'm just starting so I don't have any money I would like to save $60,000 to buy a rental property, I think I could do it in  5-6 years, my brother filed bankruptcy and they relieved him of $6000 in debt from cash money.a list of my debtGst Hst Tax 4500 income tax from working with my dad I oweScotiabank credit card 1400Canadian Tire credit card 500cash money loan 2400Belair 600echelon 600should I pay the 10k back in the next while or should I file bankruptcy like my brother as It won't be for years until I am able to get a downpayment for a rental house anyway.You appear to be in Toronto, so the laws may be a bit different.