I have allocated $250,000 in savings specifically for investments, aiming for a conservative down payment of 3.5% to 5%, depending on the deal and financing terms.I am planning a visit to Florida in June to scout properties and gain a deeper understanding of Tampa's neighborhoods, including the greater tampa area.

They get a small monthly payment from the tenant and at the end of the lease they will cover any damages that you submit, up to the amount of the security deposit and then collect any damages from the tenant directly. 

When it comes to shady and ALL  contractors period you need to listen to Rico, the RE.I. on Instagram who advised all Investors to UTILIZE ESCROW ACCOINTS [or bank trust accounts or SELF-DIREXTED IRA ACCTS. or simply a bank savings FUNDED ACCOUNT from which the bank must handle all co tractor payments disbursed.

My point was You won’t find non-leasehold properties in Kailua for 133-150k.

Lastly, should I continue collecting rent through Venmo or should I have her set up automatic payments with my bank? 

Once you have that figure, estimate the monthly payment and potential rental income to calculate your DSCR ratio, ensuring it meets your lender's requirements.

The one I used was the University of Michigan Credit Union.The loan to value is lower on investment property but if you have a strong equity position it makes sense.Then, the blended rate between your HELOC and primary loan is still better than the rate on a cash out refinance.Plus, the HELOC is flexible and can be used over and over if you pay it down and you have no payments until you use it.Dry powder waiting for the right opportunity.To Your Success!

I can't speak about if HOA fees affect home prices, so much as I can mention that some buyers specifically look for no-HOA properties, or must factor in the HOA fee when deciding what monthly mortgage payment they can afford.If a buyer's finances are tight enough that the HOA fees make them question if they can afford the property, then they're probably not the right buyers.Some of my buyer clients just want to be in xyz neighborhood, and the HOA fee is just one of those things they know comes with the territory.I serve Pinehurst, NC, which is internationally known as a mecca for Golf enthusiasts. 

Great point about interest payments back to the insurance company.

So then began the journey....Sold our existing home in a week around the beginning of January 2024, used some of the equity for debts, but other for a down payment on this land.Created an LLC to hopefully gain more business from this build.