Has the property been assigned since the date you purchased it? 

You shouldn't need the expense of a PM software until at least 10 units.Rent Collection - have tenants deposit directly to your bank or use Venmo, Zelle, etc.Leases - we created a great one in Word, added form fields and then locked it, so all we have to do is tab through 6 or 7 fields to add property address, tenant names, rent amount, SD amount, start & end dates and a few other fields.Contractors - don't recommend Craigslist as mostly flakes.

Purchase Price: $369,000Rehab costs to date (Cash/0% Credit card): $22,000Additional cosmetic rehabs: $6-8kAs-Is Appraisal: $420,000 (April 2021)Current Rental Income (friend living with me): $800Mortgage: $2000Comps in the area: $490-560K but average sqft price $264 with prop size of 2450 sqft, so could be more.Rentals in the area: $2.5-2.9K a month, not including additional living space.My financing/current capital methods:Personal Income: $129,000 a year.Rental Income from above: $800Student loans: $340 a month.No other debts other than CC payments for rehab and personal debts: $12,000.Savings (does not include investment accounts, 401k or IRA): $12,000Cumulative CC Limits: over $50k.My questions include:What are my best options to get this thing to cash flow while adding as much value as possible for a refinance (pay off CC and have cash for another off market property I have in the wings).

Purchase Price: $369,000Rehab costs to date (Cash/0% Credit card): $22,000Additional cosmetic rehabs: $6-8kAs-Is Appraisal: $420,000 (April 2021)Current Rental Income (friend living with me): $800Mortgage: $2000Comps in the area: $490-560K but average sqft price $264 with prop size of 2450 sqft, so could be more.Rentals in the area: $2.5-2.9K a month, not including additional living space.My financing/current capital methods:Personal Income: $129,000 a year.Rental Income from above: $800Student loans: $340 a month.No other debts other than CC payments for rehab and personal debts: $12,000.Savings (does not include investment accounts, 401k or IRA): $12,000Cumulative CC Limits: over $50k.My questions include:What are my best options to get this thing to cash flow while adding as much value as possible for a refinance (pay off CC and have cash for another off market property I have in the wings).

It can take longer for a sec 8 tenant to move in as you are working at the speed of a government program and an inspection has to happen. 

The latter I feel like I would be paying them to catch them up to speed on things I already know and for them to educate themselves on the bill and current situations in the ever changing landscape.

Finding a place that is slightly dated or needs a bit of work (not talking about blowing out walls) often means the purchase price is lower and you can update it yourself adding equity. 

First, if there is a flood between now and the closing date, it seems like  the seller may have a property policy and a flood policy, but after closing, those policies will not cover any damage incurred prior to the flood, for me, the new owner. 

The lender that I chose for my HELOC was one of those who did not close or reduce any HELOCs during The Great Recession and did not close or reduce any to-date during The COVID Crisis; I know that history doesn’t dictate the future, but given that the Financial Crisis of ‘08-‘11 was the most recent and most severe benchmark to go off of, coupled with our current situation, I feel about as confident as I think a person can be in regards to that.

My plan is to pass my real estate license (pending state test date) and funnel any commission into purchasing multi-families.