Hi All,I need to start ordering tenant background checks directly instead of through my property manager (for reasons I don’t need to go into here).

Start with an established team member in your desired out-of-state market.

Way I differentiate is private money may be a friend or family member vs. hard money which is a company or someone else.

@Leah Ramsey If you’re starting out the cash out refinance is probably best for a novice.

The new requirements will apply to tenancies starting on or after July 1, 2025, with pre- and post-repair photos required by April 1, 2025.This law also clarifies that landlords can only deduct professional cleaning costs if needed to restore the property to its original state.

Just food for thought from a friend who owns a larger development company...

In our area, the utility company will not allow water / sewer to be placed in tenants name, however natural gas, power, and everything else can be as long as its sub metered.

I’m in Plano and wanting to get started with STRs.  

I would suggest reaching out the companies that market assumable mortgages for them to answer how hard or easy it is.   

I am also eligible for the Section 121 exclusion for this transaction.I received two 1099-S forms from the title company: one reporting the cash proceeds (box 2 for Gross Proceeds) and the other showing no amount in box 2 but with box 4 checked, indicating the transaction involved a 1031 exchange.