Not my idea, this is from RichDad, but really good advice.I would suggest to do that on the side and think about a W2 job.

Whether it applies or not it's always a good idea to check with a professional first so thanks for the reply.

I was playing with the idea of selling my condo, taking 300k of the equity to put a down payment towards a house listed at 660k.I'm assuming the reno will run $300/sqft and going in with the assumption that phase 1 will run 750k (figure the expansion of the house will have to wait) for the gut reno.I assume/hope (but definitely not banking on) that I will be able to refi in 2-3 years at a lower interest rate; if not for a lower rate.This will likely be a family home for the next 5-10 years at LEAST so investment value isn't quite at top of mind ATM.Questions:Even if it's not for lower interest rate, do you feel it's advisable to refi to remove the 203 loan in the future?

I've got the idea to more positively incentivize my tenants to pay rent by the idea expressed in the following example:- If they pay any later than five days late, they pay base rent ($1,000) + fixed late fee (e.g., $150)- If pay on time without autopay, they pay base rent ($1,000) + "manual payment fee" (e.g., $25 or $50)- If they use autopay for timely payments, they pay just the base rent ($1,000)In the above example, you see that a discount of $25-50 was applied in the case that the tenant chooses to setup autopay to schedule on-time payments via a given PM software.Please let me know if any software comes to mind and also any feedback on the positive incentive idea.Thanks in advance!

Great idea. 

I wouldn't let the idea of purchasing a home that has oil heat deter you. 

Any model ideas?

Any ideas on what to do here? 

I'm open to all suggestions and ideas!

Hey Laura,So I can't help with the true GAP funding, but I might have some ideas on how I could help utilizing the seller financing and transitioning it to something long term.