This will give you an idea of the average sale price and what you can expect to get for the property if you make the necessary repairs and upgrades.Property History: Look into the property's history, including any previous owners, liens, or legal issues.

It will create moisture and mildew and open you to issues including possible lawsuits....So my advice is - don't do anything until this is no longer an issue....

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

. $2,500-$2,700 in rent but have a $1,900 mortgage (including current property taxes) plus $100 for insurance, plus a 10% chance of no one renting and another 10% set aside for repairs.After all that I'm in a range of breaking even or making $200 a month with this as a rental.

Basically develop a Business plan that includes your Mission Statement; SWOT Analysis, Financial Analysis, Market Analysis,...

This is one of the main reasons people go with DSCR Loans or other similar options versus conventional - ability to do LLC, especially with the BRRRR Method (which sounds like what you are doing).PS - heres an article published on BP which includes pros/cons/differences on financing options for BRRRRR hard money/refis https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

Standard lessons include the inevitability of interesting challenges.

I will not even begin a project unless I have a good idea bout my team members including the contractor.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

They include any costs incurred during a general search for, or preliminary investigation of, a business or investment possibility.The costs you had in your attempt to acquire or begin a specific business.