Make sure to utilize all the great tools BP has to offer, search for local meetings and start networking.

We utilized an amazing realtor and put in an offer at asking price.

These would esquire you to spend 5-10x more time on the rentals,  and what if they produce the same or less income after you go out and buy all the furniture and start paying all the utilities.

This typically requires 125% of the mortgage debts in available assets. 

Typical requirements for a HML: recent bank statements, credit report, appraisal/BPO with as-is and ARV, sales contract, scope of work/budget-draw schedule, track record/previous purchase and sales HUDs/ALTAs showing the construction holdback amount, etc.

.- Utilize depreciation deductions to reduce taxable income.- Understand passive activity loss rules limiting deduction of losses from passive activities.Capital Gains Taxes- Be aware of tax implications when selling property, considering short-term and long-term rates.- Explore strategies like 1031 exchanges to defer capital gains taxes.Deductions and Expenses- Know eligible deductions: mortgage interest, property taxes, insurance, maintenance, and management fees.- Maintain detailed records of all real estate-related expenses.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.

I sent 92 letters to duplex owners in my specific are and had 5 legitimate leads come from it and closed on one that worked for me (these are not typical results).

That said, they will still require you to have a minimum FICO of 640 typically and enough liquid funds to cover the closing costs and reserves.

These types of lenders are very specific and typically not from a traditional bank.

.- Condos are typically closer to very busy areas like city centers (while single family and multi-family are further away / in suburbs) which, in the case of a buy-hold-rent strategy, means that the investor will have more traffic / demand.- Smaller properties are usually easier to off-load (more liquid) because our society is seeing very high levels of migration (people travelling or moving for work constantly) / people less inclined to partner / have families / people more focused on work / and pied-a-terre concept.- Condos are much easier to maintain internally than larger homes.- Condos are easier to manage as Air B&B than larger homes.- In the case of multi-family properties, sharing a home with two or three other families where everyone knows everyone can create issues if they don't get along as the close proximity doesn't allow for any privacy.Happy to connect with you and speak in more detail if you are interested in Massachusetts!