The property is livable, but I am account for a pretty significant turn in 4 - 7 years of paint, flooring, and any miscellaneous repairs that the inspector could have missed since it was occupied.

In the meantime I would put the money in a low risk account gaining 4-5% which for $250k would be around $1k/month.Hey Chris - what is driving the sentiment not to buy anything right now?

Account Closed, we’ve never self-managed.  

If they choose to stop paying rent later they are held accountable for that.

Next, I'd get my electrician in there STAT to give me there quote to get it done. maximum scope, account for all variables, not a "hopefully it's just..."

But ultimately the responsibility lies in my hands.I jumped on a seesaw of risk hoping that the momentum would catapult my bank account into six figures only to find out the hard way that flipping houses isn’t as easy as I had predicted.This house was purchased for $64,000 with an expected rehab of $100k to $120k depending on how much work the dilapidated and neglected house needed.The midwest is lovely but the houses carry the weight of weather storms nearly a century old leading to more damage than a beginning investor could expect.The appraisal came in at $225k for my lender meaning our all-in cost would be around 85% of the sales price worst case.

Naturally, they are your competition and the daily rates need to be taken into account.

This approach avoids downtime and lets you start earning right away.Future Bookings:Taking over bookings can get tricky since Airbnb doesn’t allow direct transfers between accounts.

Make sure you account for all of your interest load if youre using a Heloc for permanent financing as you suggest.

Many banks handling tax escrow accounts for mortgages have mistakenly thought there was one tax due twice/year or totally missed one of the taxes.Investors should research the SEV and the Non-Homestead property tax millage rates to project what the property taxes will be after adjustment.