This way, they’ll have a vested interest in maintaining high standards of management.To truly understand property dynamics and support the management team, I recommend spending time on-site.

Spending $1,000 to start the process can be worthwhile if you’re clear on the steps needed to reach that point.As for renovations, the approach really depends on your goals and the scale of the work.

Being able to A/B test MTR at the same time would allow you to know if you can convert the STR to MTR if you ever want to move out and keep the property.As for the net negative house hacks - I always like to remind people that shy away from a deal because they aren't making money that they are usually still coming out ahead if they are spending the same or less than they would on rent.Great last point.

. - All they've got to learn is to save some of their income to pay their bills on time and they could then afford to buy a home.Instead, they spend every penny they make on things they don't really need and then blame everyone else.Take a look at a Class C or D tenant's bank statement to see the frivolous things they spend their money on and you'll better understand our society's biggest problem.

You said "don't do it for the money," but I'm sure money calculations were part of convincing you this would be a reasonable way to spend your time and money.

I'd also spend some money in direct marketing to get more sellers, and either wholesale those deals or buy them myself.

At 19, you’ve already mastered what most people spend years figuring out—turning determination into action and action into results.

Should I spend money on professional photos?

My markup is always lower than the original lender's because I don't spend money advertising during the Super Bowl, my president doesn't have a corporate jet, and we don't have layers of management we need to pay.

In a text book case you'd buy a property for half of its ARV (after repair value) and then spend 25% of ARV on rehab and generate 25% equity.