May not be able to qualify at this time for conventional financing or the property needs work that they want to upgrade first.2.

We then spent around $30,000 out of pocket on renovations, including repairing the roof, upgrading the electric panel, installing new HVAC, and putting in a new kitchen.After completing the work, we refinanced with LendingOne using a 30-year fixed-rate DSCR product at around 7%, which resulted in a net cash-out of approximately $15,000.A couple of things to note:I'm out of pocket on this property for around $40,000 ($25k down, $30k rehab, minus $15k recaptured).I'm thrilled with this amount since it's far less than our "normal" 25% down strategy would require based on the higher value.The property appraised for $330,000 after the renovations.The key point for me is that this property is now netting around $800/month in cash flow.

Once you’ve finished renovating, you can switch and rent out the newly upgraded half at a higher rate, then start renovating the other half.Experience and Skill Building: After two years, you'll have a duplex with both halves nicely renovated.

The key is to save a decent amount for that rainy day.If you're buying a newer house with upgrades on the major systems -- roof, furnace, water heater, sewer, and appliances?

3) Have you considered ADU upgrades?  

Considering the concept "you make money when you buy" how would you reconcile that against your recommendation that a new investor starts with a turnkey rental vs a property that needs even minimal work so there's equity in the property after repairs/upgrades?

The city has been re-inventing itself over the last decade, downtown looks very different, we are currently getting an upgraded freeway system and you see a lot of new developments.

The tenants love her, she stays on top of maintenance, has implemented upgrades to improve the property and drive rent increases (much to my dismay, LOL), organizes fun themed events with catered food for tenants, manages evictions and oversees the building's Section 8 program.

Main house will rent for $3k/mo once upgrades are complete, and if we ever decide to move out.

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