If I buy a property with tenant in place, do I need to inherit the existing lease terms?

Remember, hard money loans are typically short-term (3-18 months), so make sure your flip timeline aligns with the loan terms.

Hi BP -- I'm currently working on my first House Hack. I'm debating whether or not to fix old sewer waste pipe. It is a huge ticket item and can eat ~30-40% of my reno budget.Today I did a walk through with plumbers a...

I’ve worked in the RE industry in the past so I’m no stranger to it, though I’m not an agent.My general approach is to 1) get pre-approved on FHA loan and 2) work with an agent to find off-market deals willing to work with FHA process.Open to any advice, but here’s some specific questions:Advice on general approach?

This real estate investing is not a race its a journey and it will take time to see any fruits of your labor.

I also wouldn’t even know where or how to start with seller financing, how to come up with the terms, etc.

I have used the bigger pockets residential lease for long term tenants but doesn’t seem to be for month to month any and all suggestions would help! 

In this section, I want to emphasize the benefits of seller carry financing, share success stories where it enhanced the deal, and highlight the tax advantages of utilizing a 1031 exchange.Seller carry financing is a powerful tool that allows investors to purchase properties with flexible terms and minimal upfront capital.

This will be a long term rental that we plan to keep for many years. 

Some details on the deal below:Mortgage rate on the property: 3%Monthly mortgage payment: $1200Amount owed on mortgage: $230KCurrent property value: $370KEquity: $140KDue to the low mortgage payment and high rent potential in this neighborhood I would like to assume this loan and rent this property out as a long term rental.