I suggest focusing on building your "Core 4" team—agent, lender (one who can finance both the purchase/rehab and refinance is ideal), contractor, and property manager.

You can include moving and storage costs in the charges.

I actually started my own blog to break down the latest market news in a way that’s easy to understand and actionable.I pull my information from a few solid sources, including:•Florida Realtors (floridarealtors.org) – Great for statewide updates, trends, and legislative changes.

@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

The other thing I have learned over time is that the clearer your vision is, the easier it is to get there, so CLEARLY defining the location, type of property, purchase price, renovation amount, etc. etc., will really make a big difference.

For that amount, you might as well have purchased an extra smaller house.

The risk is not including due diligence caveats in your offer, like inspections.   

Quote from @Jokari Trueheart: HI, almost 11 months ago I purchased 3 duplexes and I borrowed the funds from my personal residence which I took out a equity agreement for the down payment on the investment property, great idea at the time because I have 10 years to pay it off and theres no payment requirement, but , I learned more about the consequence that it takes a large chunk of my equity the longer I take to pay it back, so my goal was to refi cash out the investment property to pay it back but I don't think theres enough equity yet to pull the full $106k needed, I only borrowed $88k but with the equity percentage for one year i'm paying about $18k in equity on top of the amount I borrowed if I pay it off in year one, so I need this paid off ASAP before it increases more.

Purchase price: $122,000 Cash invested: $41,000 Value after renovation $175,000.Closing $ 31,000 Renovation $ 10,000 How did you add value to the deal?

Everyone already knows someone who can sell them a house in the US.With over 15 years of experience combined in international travel and Airbnb hosting, I am now a full-time consultant that helps Americans purchase property and set up their businesses abroad.Me and my partner own three apartments in Croatia that I manage myself remotely.