Now, this would obviously be negatively cash flowing since you would need to pay taxes and insurance.

Since the loan is still in your name, you can deduct the interest you’re paying to the lenderon your tax return... 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Make sure to factor in insurance (slight change as rental), property tax (in our market is 2x a primary res), vacancy (3-5% in most markets), capex (old roof?)

Some great options include:Drip Coffee Makers – These are a classic choice, easy to use, and allow guests to brew multiple cups at once.Single-Serve Coffee Makers (non-Keurig) – If you want to avoid the pod waste associated with Keurig, there are many single-serve options that use reusable pods or grounds.French Press – A great option for guests who enjoy a more hands-on brewing experience.Espresso Machines – Ideal for guests who appreciate a high-quality espresso or latte.It’s important to consider your guest demographic and what fits best with your property’s vibe and available space!

@Kristin Vegas- You are going to need those invoices to be able to write off the repair expenses for tax purposes, so if this PM isn't willing to provide them, you should look for a PM that does.

All the best to you during your last semester.Househacking is one of the most common routes for new investors in NY.For best returns, I'd recommend focusing on South and Southeast Queens, Central and Southeast Brooklyn, and the Bronx.There are parts of the suburbs (Westchester and Long Island) that have househack opportunities but the property taxes are higher and the commute time to NYC is longer.Abel

I promise you will have options once you finish renovating.If you purchased correctly (location & purchase price), you will have enough equity so that you can either sell it for tax free capital gains, cash out refinance (if mortgage rates are lower), or pull a HELOC to acquire your next property!

It’s harder to BRRRR in the Tulsa area now due interest rates, you definitely have to buy at a great discount in order to be all in low enough toget all of your money out and the rents have to be high enough to still cash flow after all expenses (PITI, Mgmt, Vac’s, Rep/Maint, CapEx, HOAs, Util).Based on being “all in” $120K in order to BRRRR and still cash flow at least $300 mo:$120K cash out amount - at 7%/30 yr ($150K+ ARV)PI = $800 mo + Taxes $150 + Ins $150 = $1100mo PITIRENT would have to be at least $2000 mo- $1100 PITI- $200 mgmt (even if self mng, it’s exp for time)- $200 vacancies- $200 Rep/Maint & CapEx= $300 mo cash flow.

This will also allow you to avoid taxes on the sale.