(To qualify for section 121 tax exempt on portion of sale.). 2) what do you think your net profit would be after selling costs?

Taking it nice and slow and trying to not make mistakes that cost time and money.Thank You for the Input in Advance,

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Account ClosedOut-of-state investing offers market diversification, lower entry costs, and economic opportunities, but also presents management challenges and increased costs.

For example, now incur 3 months of carrying costs and then have to sell for $20k less those extra costs are your damages that you could claim against the seller.

How much does it cost? 

We manage 37 doors with that costs us a few dollars per door per month with no surcharge for ACH payments and we get next business day credit for those.  

For your first house hack, I would look for something more “turnkey” where it’s set up for you to live in and ready to be rented when you move in, maybe a little of work.

Set up and site prep, open permits2.) demo and clean up (also electrical and plumbing demo)3.) rough carpentry, windows4.) rough plumbing, electrical5.) city inspection6.) insulation (and inspection, at least here in Wisconsin)7.) drywall, texture, primer, paint8.) cabinets and flooring9.) doors and millwork10.) flooring11.) finish electical12.) finish plumbing13.) appliances14.) punch list15.) final clean upYou can alwys tell a bad crew when they are drywalling in one room and then start demo in another.

Flexibility is an important consideration.If you hear 7.5% DSCR rates, that probably has 1%-2% in discount points (up front closing costs to buy the rate down), a 4-5 year PPP, and it probably assumes a perfect rents/payment ratio.