As many cities require insurances for any rental properties, this will be very challenging for market being affected.

Yes that seems high but without a breakdown of costs for the 13k it's challenging.

Rise to the soul challenge, Steve.

It’s not always easy, but each challenge has taught me something new.

Combine this with interest rates that are near the high for this century and cash flow is challenging.  

Challenges?

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

Flipping on a land lease with high HOA fees = challenges that could impact profitability. $700/month HOA fee may deter buyers, elongating your resale timeline, and could push your ARV closer to the lower end of your range.

@Diana Teng Buying your first rental property out of state can be a solid move, but it does come with its challenges, especially if you can’t scout the area in person.

Hey @Dan ErmolovichSorry to hear you’re facing this challenge...evictions are one of the tougher aspects of real estate investing, and being out of state adds to the difficulty.