I've seen a few folks make that kind of jump, and it's not as off-the-wall as some might think.

Hi Richard, welcome to the community!

They had purchased a home in Waldo in March of 2023 and refinanced to pull cash out to buy the new home in Lawrence.

Put simply...I've seen turnkey sales that were done terribly in terms of rehab, weren't in great locations, and had tenants that were paying over market rent (to make the numbers look good). 

Finally- you can eliminate 95% of the troubles and risk by simply having professional and legal screening and management processes, so don't sleep on that piece. 

Did you know that you can acquire your a primary residence from up to 1-4 units for as low as 5% with conventional.

The biggest lesson, which I learned early on: get clear on the type of property you want to buy, then tell everyone over and over again.

Quote from @Juan Ruben Cortez: I believe the funding fee is 0.5% of the remaining loan balance, plus maybe another $500 - $1,000 in lender fees. 

Hi Everyone, If I only have tenant's birthday, driver license number, and phone number, can I still have a collection agency to help me to collect the delinquent rent?

Mostly on trade accounts with local businesses for the materials, some business credit cards, some of the contractors were OK with waiting 30 days for payment.