Just focus on running the numbers carefully to ensure the property cash flows or at least covers expenses, and don’t hesitate to lean on resources here for advice.If you’re financing, look into FHA loans, as they’re great for first-time buyers purchasing up to 4-unit properties with low down payments.

But I would charge the extra 3% to cover my costs.

Bingo: you will get to see all your competitors, their pictures, their amenities, their descriptions and their PRICING.

You'll want the rents to at least cover the monthly principal, interest, taxes and insurance (and HOA if there is one).

Ask for its breed, weight, and name, and have them attach a picture.- Make the application part of the lease, with the stipulation that if they've lied in the application or in the lease, they can be evicted.- Tell them they have to provide documentation of the animals service / emotional support (as allowed by your local ordinances), and that they have to provide documentation that the animal is current with its inoculations, etc. as well as its local license before you'll permit the animal in the unit.- Tell them they'll have to provide you with a copy of their renter's insurance naming you as additional named insured, with a minimum of (I use $300,000) liability insurance, also before they move into the unit.It's not perfect, but it's a start toward a tenant transparency.

You are LOSING money because you didn't even raise rents to cover those increases!

We're new to real estate and would appreciate advice on our current home in Texas and our future place in Oregon.We love our house in Austin and aren't ready to sell, but as a long-term rental, it would yield (from what I understand) negative cash flow, covering principal and interest but not taxes and insurance.

We have been told that fha will not cover this since there’s are two residences on the property.

My general contractor told me to charge her a $400/month pet fee for four months –which would allow me to save up $1,600 to cover damages- and then give her 30 days notice in May when it will be warmer and faster to fill a unit.

Don't let the plywood fool you - the interior pictures on the listing are nice.