Analyzing market trends, evaluating properties, building a team, staying updated on legal considerations, and using technology can help manage leases and payments.Good luck!

Thank you very much for your response and consideration.  

Legal Issues: Disputes between buyers and sellers can arise, leading to potential legal complications.Important Considerations: Contract Terms: It's crucial to have a well-drafted land contract that clearly outlines the rights and obligations of both parties.

Projecting the growth and thus desirability and central location near the local market prime drivers is an important consideration.  

What follows will probably sound somewhat pessimistic - but I put it out there for your consideration...Understand that your journey will be a long one, as real estate is usually not a get rich quick game.  

The draw period, the interest rate, any rate increase(s), amount of monthly free cash flow, and discipline all are factors for consideration. 

After long consideration, I have finally decided to purchase an investment property.

First of all, do you have any experience in any of the use considerations you have? 

Communicate with the lenders to let them know I'm the new Deed holder.What other considerations should I take? 

If you use AirDNA you can see true revenue versus revenue potential and a lot of comps I look at have considerable blocking.For my clients, may are truly second home buyers who do plan on occupying the property part of the year.