Flippers will have to price in these added expenses to maintain their margins, leading to lower offers on distressed properties.

Keeping an eye on the market and maintaining flexibility will help you pivot as needed.Good luck, and congrats again, seems like you're setting yourself up for success!

@Dave GreenHere are the three options for generating passive income and scaling up a property portfolio: selling rentals and buying a multifamily property, paying off your primary residence, or holding rentals and maintaining cash flow.

Property management involves overseeing and maintaining rental properties on behalf of the property owner.

I am not a featured agent and Im closing bulk of my business from BP without doing a heck of a lot, I am just maintaining what I started.  

So I have a rental property that I am paying a management company to maintain and rent out. 

This keeps the liability within the LLC and maintains the separation between personal and business assets.

To prepare, focus on saving for a strong down payment and maintaining a solid credit profile, as both are critical for competitive financing.If possible, look into FHA or conventional loan options for owner-occupied properties, which may offer favorable terms, especially for first-time buyers.

If you choose this route, make sure to have clear, written agreements in place and maintain a professional landlord-tenant relationship.

It’s important to balance cash-out refinance with maintaining healthy cash flow from rent.Mismanaging the Rehab Process:Delays in the rehab phase can eat into your profits.