As a mortgage officer, I can assist you in understanding loan products that suit your investment goals, such as conventional loans, FHA loans, or portfolio loans.Property Management for Self-Owned Properties: Leverage your management skills to maintain high occupancy rates and maximize ROI on your investments.I am a loan officer licensed in NC, feel free to reach out if you have any questions or need assistance with financing options.

Converting your single-family home into a rental property involves several considerations to protect yourself and ensure smooth operations: Establish an LLC:Liability Protection: Holding the rental property in an LLC can protect your personal assets from potential lawsuits related to the property.Tax Benefits: An LLC can offer tax advantages, such as pass-through taxation, where rental income is taxed at your individual income tax rate.Insurance:Landlord Insurance: Ensures coverage for property damage, liability claims, and loss of rental income.Umbrella Policy: Provides additional liability coverage beyond your landlord insurance, offering extra protection.Deductions:Mortgage Interest and Property Taxes: Continue to deduct these expenses.Depreciation: Depreciate the cost of the property over 27.5 years, excluding the land value.Maintenance and Repairs: Deduct costs related to maintaining the property.Property Management Fees: Deduct fees paid to the property manager.Filing Taxes:Schedule E: Report rental income and expenses on Schedule E of your tax return.Separate Accounts: Maintain separate bank accounts for rental income and expenses to simplify bookkeeping.Lease Agreement:Solid Lease Terms: Ensure your lease agreement is thorough, covering rent amount, due date, late fees, maintenance responsibilities, and eviction terms.Legal Review: Have the lease agreement reviewed by a real estate attorney to ensure compliance with local laws.Tenant Screening:Background Checks: Perform credit, criminal, and eviction history checks on prospective tenants.References: Contact previous landlords and employers for references.Property Management:Regular Inspections: Schedule regular property inspections to ensure it's being maintained properly.Maintenance Fund: Set aside a reserve fund for unexpected repairs and maintenance.Moving Out of State:Communication: Maintain open communication with your property manager.

My biggest pain point has been not knowing all the little things that could have helped me out if I put them in the lease that would have helped me snip some of my problems in the butt and for context I am a roockie with only one rental property Tenants will not move in with out all utilities in their name When tenants move out they will sign a move out form for all damages if any over a reasonable amount Tenant will not hang fie traps out side of home those are just personal examples of some of my issues with my one tenant so what would be really help full is some of the little things that you dont even know that you dont know 

I would personally encourage you to use debt if you are looking to wait 3 years to get started though.

. - Confidence in our ability to produce a quality product and improve our systems - Trust gained in the hard-money lending community - Excitement for future projects!

RegardsGiles DalrympleIn my personal opinion there were lots of red flags with Lane Kawaoka deals.

This would allow you to secure funds without placing a lien on the new property.Personal Loan:Investigate personal loans from banks or online lenders.

Next to 0 unless it is coming from a personal contact or a HELOC or something like that. 

We run in-person meetups in Northern New Jersey on the first WED of every month, but in July it's the second WED in Morristown.

If you can find a partner with the capital and/or lack of time, you can become that go to person on the team to make sure you are making solid decisions on the buy side, especially if your partners are out of state.