The 70% rule is a good starting point, but also factor in local market trends and high-ROI upgrades like kitchen and bathroom updates, modern flooring, and curb appeal.

This past year they have started paying rent late to the point where the total accumulated time is about 3 months of back rent due.

My current goal is to analyze properties for potential deals on BP pro daily and start wrapping my head a general understanding of the process. 

That stopped when I stopped using third-party cleaners, but I also started to only leave enough for the stay.I use a small Dawn hand dish liquid that I fill between guests and larger hand soap dispensers in the bath and kitchen that I fill between guests. 

Hi Meghan,Curious why you would choose DFW instead of Memphis to get started on your portfolio, especially if you are local.  

You'll need money for: closing costs, down payment (if any), operating capital to get the construction/rehab started (most HMLs reimburse you in draws for the work completed), along with some liquid reserves on top of that.

I have been working with many people who are just trying to get started with real estate investing.

I started with a property management company.

We are about to start building our first short term rental property.

If the property cash flow starts in 2024, personal usage is not that impactful.Talk to your CPA if renovation counts as QIP for bonus depreciation.