I think too many people move on to property number two and three before property number one is really in good shape and later they regret it.

Property taxes, income taxes, sales taxes, declining population, unfavorable rental laws, winter weather.

You've shared so many gems and described a realistic depiction of purchasing an investment property. 

Can your first payment be in 90 days, so you have time to rent the property?

Will you hire a property manager?

If you're lucky enough to get a free and clear property where the seller is willing to finance, this reduces much of the risk associated with seller-finance.I would make sure the title is then moved over to your name, especially since there is not a risk of a due-on-sale clause being triggered.

We currently have 3 properties.

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 A fix-and-flip project purchased off-market from a tired landlord involved buying a distressed property with significant deferred maintenance.

My name is [Your Name], and I'm a licensed architect with a passion for turning ordinary properties into extraordinary investments.A Bit About Me:Architect & Investor: With over 10 years of architectural experience, I've had the privilege of designing and revitalizing a diverse range of properties—from cozy residential homes to bustling commercial spaces.

@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.