For me, if the SFR investment property is occupied, i will look at the lease and the tenant's application to ensure that the tenant is someone i want in my investment.

Also, you want to ensure your car and other miscellaneous loans you may have are paid off.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.

There was a guy that did a post the other day who was 21 and already saved $100k.A lot of the times (this is not legal or insurance advice), but your assets can be adequately protected via proper insurance on the property which would included a liability policy, and then with an additional umbrella policy.Keep in mind, transferring a property from your personal name to an LLC could trigger the loan's due on sales close.

The only luck, if any, that exists in business is bad luck, all else depends on strict business practices......proper and thorough screening.

This is very popular in rentals with hands-off or absentee landlords who don't handle much of their own maintenance.We do business in Pittsburgh, the city proper and the immediate suburbs.

When I looked at it a few things jumped out at me; it looked like a manufactured home but it was stick built, adding to the look was a 1 X 6" molding between the "skirting" and the house proper, that was painted a clashing color, it was a 2/1 but there was an 8' X 14' laundry room that was crying out to be a 1/2 bath. 

Not properly screening can turn out really bad or you can get lucky.

You need to work with only Motivated Sellers by asking proper questions and determine whether this is a Motivated Seller by phone and before going to meet owner to determine if Motivated is a waste of valuable time.

I pay mortgage, taxes, insurance, repairs, management, etc.Account B: Tenant security deposit is held separate from all other funds to ensure I don't spend it.Rent income should be more than enough to cover the mortgage so why are you putting money into the account?