Reserves are key to managing cash flow stress and opportunities.

Could anyone provide recommendations on the most effective strategy for expanding my real estate portfolio?

Specifically, I'm looking for insights on:Finding a reliable hard money lender who can finance the entire purchase and rehab costs.Strategies to present this deal to the lender to increase the chances of approval.Any potential pitfalls or things to watch out for in the BRRRR process, especially given the foreclosure status of the property.Tips on managing the rehab while tenants are already in place.Thank you in advance for your help!

I'm not sure how much of that is going on right now, but I'm sure there are always traveling nurses and doctors coming into this area that need short term housing.A lot, of property management companies will only do a minimum of one year leases, but I think there is good value to be had in the short term rental game, as long as you have a good strategy and a management company that is align with your vision.When I was leasing full-time, I used to get a lot of calls from insurance companies who have clients who's properties have been in a fire or some natural disaster and need short term housing, and they're also willing to pay a lot higher than market rent. 

You need an attorney.HELOCs are mostly an online application but because you state is a small local bank I GUESS Mom went in person and applied with a teller or the manager.

For the property managers in the audience... when setting up a property management agreement, what would you consider to be the best way to handle fees that aren't covered in the monthly management fee?

I am focused on those out there who are raising $50M+ to buy institutional level assets but do so by managing  500+ separate investor relationships.  

Our efficient project management ensured the renovations were completed on time and within budget.

Thanks for asking.I am fortunate - but to make the story short, I had a GC in place already (they are also my Property Manager) and I've known the owner for over 10 yearsSo far the numbers have been favorable and we are looking forward to wrapping up shortly. 

We’ve been using the same management company and have had the same tenants for several years.