It would also be wise to educate yourself on what a good PM does and doesn't do, how they do it, what they charge and why, etc.My book, The DIY Landlord, will be out in December and can teach you how to select or supervise a property manager.

Great Buy and low interest rate. 3.5% How did you find this deal and how did you negotiate it?

GET AFTER IT!

Where it is peeling away, I would scrape and see why it didn't adhere well.

@Rama KrishnaTo start investing in real estate, set SMART goals, educate yourself, learn market research, and choose a strategy.

I'm surprised they were able to do a 1031 under this structure.

You can't buy a property with a handful of cash (or transfer from a stranger's account) unless the lender can prove exactly where it came from.

A link to FilePlace is at the bottom of every page, so it is easy to find.If you have technical issues, send an email to [email protected] and someone will help you.

But with this being a 5 unit multi-family building most lenders do not offer a loan product that will take the STR revenue into account. 

Your renovation experience is a huge plus—use it!