Hi Everyone, I am purchasing my first SFH, and I plan to live there for a year and share 2 rooms with 2 other tenants, to reduce the cost.

You appear to have found a property that doesn’t require property tax payments, title, hazard, or fire insurance, and a closing attorney or title and escrow that works for free on both the purchase and sale side.

\we have an oprotunity there to purchase multi unitr there and want to advice with someone that well familier with this area

Termination right if STR no longer allowed, profit sharing, purchase option or ROFR, length of lease and lease options, how to handle major repairs, who pays initial investment in upgrading property, etc.P.S., this is also similar to co-working locations where the operator signs a master lease with the building owner and then rents out cubicles to individual customers.

The seasoning requirements, LTVs, and drivers of the difference in purchase/appraisal values will be effected by the loan product.

Petscreening will ask the appropriate questions to ensure the applicant is not using a fake letter or registration purchased online.

I have read a few introductory books on real estate investment, and I am now looking to take steps towards purchasing my first property as I love to greatly research anything I want to start doing.

I’m still saving for purchase price and reserves, but while I do that, I heard on the podcast to try to just analyze one property a day and after a month or two it’ll become much easier.

Another thought - When purchasing HVACs, roofs, tree removal, siding, etc. you can very easily pay "retail" (just look for the biggest ad campaigns online) or you can save 30-50% by being your own GC and finding or going to the crews directly.

I recommend your purchase agreement include an opportunity to review any lease agreement, payment history, and application screening for current occupants.