We are very good at saving so can prob build it back up fast.

New RVP flooring and painting walls, trim, and ceilings are also included in this cost.Deck additionWith space to enjoy the great outdoors continuing to be high on home-hunters’ wishlists, a deck addition is a great investment, even if you plan on selling soon.

From a tax planning perspective, you are only allowed to start writing off the home once it is placed into service (once the lease starts).You are also only allowed to write off the depreciation, and any other costs or losses against the earnings from the property.That is, unless they get the real estate professional status, which requires 750 hours a year working in real estate.

I need to draw up plans, get a site survey and do some other build up.

I plan to travel down there next weekend (about 3.5 hours away), so I am gathering all the necessary info.If I did cashout refi on my current property, i can pull out $155k towards this but will be left with an additional 45k or so if doing 80 LTV, which is why I am leaning toward seller carry a second mortgage.Lenders out there, now you have my deal, can you do it?

I am just starting my plan on getting my first investment property this year.

We are planning on buying a rental property in Plano, TX.

I live in Chicago and plan to buy my first house hack by end of year/beginning of next year.Looking forward to learn from all of you!

I am just getting started investing in real estate, I plan on buying foreclosed properties in my area and either BRRRR or flipping them.

My team and I are putting together plans on how and what we should do but I'm already thinking ahead of everyone's role and percentage of ownership in this potential partnership.